Apotex Celebrates 25th Anniversary in Latin AmericaBy Miriam Bello | Fri, 07/16/2021 - 17:57
Canada's Largest Pharmaceutical Company, Apotex, is celebrating its 25-year anniversary in Latin America, where it has pioneered on generics’ introduction.
Apotex manufactures and commercializes generic and innovative medicines in over 115 countries and invested over $1 billion during the past 10 years to develop innovative product solutions. In Mexico Apotex has a finished product plant, R&D laboratories and pharmaceutical-chemical plants for the manufacture of pharmaceutical grade active ingredients (API), which makes Apotex the only company with API production and complete product manufacturing in both Canada and Mexico. Apotex allocates 12 percent of its sales in Mexico to R&D and technological innovation as part of its commitment in keeping up-to-date and being on par with the market.
When Apotex entered the Mexican market in 1996, the pharmaceutical industry was not focused on generics because the country was a brand-focused market, making it difficult for the company “to establish a foothold when we began,” said Americo García, Director General of Mexico and Latin America at Apotex during an interview with MBN. García explained that a few key distributors already had contracts with innovative companies, and were not interested in generics. However, the company began to develop new channels, including directly supplying pharmacy chains. “Apotex was able to harness the true potential of the market. Once it was established that generics are high-quality drugs, many companies entered the market,” he said. Today, its market in Mexico is made up of pure generics and branded generics, which contrasts with the market commonly seen in developed countries.
The quality, safety and effectiveness of its medicines, place Apotex among the top 10 companies in units in Mexico’s generic market, allowing the company to have a double digit grown in the brand market.
For Mexico, the company has a specialized portfolio for the prevalent chronic disease, including diabetes, arterial hypertension, high cholesterol and triglycerides and metabolic syndrome. “We are committed to raising patients’ quality of life by offering affordable products that meet the highest quality standards,” said García, “this is precisely why we are constantly striving for innovation, not only in our product portfolio but also in our communication channels.” García shared that Apotex is entering the digital world to reach more patients means providing better solutions for their health problems, as well as creating a support network that ensures proper treatment completion.