Mexico Gateway for Latin America ExpansionFri, 09/20/2019 - 09:51
Q: What was the motivation to create Apopharma and what market niches will this new division fill?
A: Although generic medicines are growing in Mexico, patients in the country still prefer branded products, accounting for more than 70 percent of the market. Given the nature of the Mexican health system, the private market in the country is mainly out of pocket. Additionally, an important part of the population prefers to seek private healthcare, which leads doctors to look for efficient, high quality and higher cost-benefit ratio therapeutic alternatives. Apotex has a comprehensive product portfolio that makes it highly competitive and allow patients to receive top-quality products.
Apopharma, Apotex’s prescription division, is an opportunity to diversify the presence of the company in Mexico and expand our reach into new channels contributing to Mexico’s health alternatives. Apopharma strives to provide products that meet international quality standards and have been certified in different parts of the globe, including US, Canada and Mexico, at the best cost. Moreover, our products have been endorsed by health authorities such as the European Medicines Agency (EMA), FDA, Health Canada and COFEPRIS in Mexico. All of the previously mentioned aspects enabled Apopharma to be launched in Mexico in 2018. Ever since that moment, we have offered one of the most complete product portfolios in central nervous system (CNS), analgesia and starting in 2019, cardiology.
Q: What does Apopharma represent for Apotex in terms of profits and investment?
A: We are at an early stage of introducing Apopharma in the market. Apopharma in Mexico and Latin America still presents the opportunity to expand and penetrate other segments where the company has not been present yet. Without any doubt, this represents a great success for Apotex which can proudly say that it provides physicians and patients a wide variety of globally commercialized products. Currently, we are seeing the results of an investigative collaboration between Mexico and Canada in different therapeutic areas. This has allowed us to accomplish diverse goals such as being the first company to launch Filcos (Etoricoxib) just after the patent had expired. In doing so, we were able to benefit many patients with musculoskeletal affections.
Q: Why was Mexico chosen as the base for Apopharma over other countries?
A: Apopharma has presence with innovative medications in other countries, but in Mexico the company is piloting a new strategy to reach patients and physicians with branded products in selected specialty segments. The same products that we are introducing into Mexico are being used in millions of prescriptions in Canada, the US and Europe but under a different commercial strategy. Mexico is a dynamic market where brands are relevant for patients and physicians. Leveraging on this, and with the company’s commitment and flexibility to serve the specificity of this market, Apotex dared to move out of its comfort zone to bring fine medicines first to Mexican patients, and to the rest of Latin America once the strategy penetrates throughout the region.
Q: What therapeutic areas does Apopharma cover and what are some of the medications included in its portfolio?
A: Today Apopharma is present in three segments: central nervous system (CNS), analgesia and lipid lowering medications. Some of the drugs we are introducing are for treating depression, anxiety, Attention Deficit Disorder (ADD), Alzheimer’s, Parkinson’s, neuropathic pain, lipid-lowering, chronic and acute pain, amongst others. Along important brands such as Periamid, Ansdepcan, Filcos, Minofedral and Exotrima, Apopharma’s star medicine is Menural, prescribed for different types of dementia. Menural contains the active ingredient Memantine for Alzheimer’s. What makes Menural and all our medicines different from other players is that they are endorsed and certified by the most important and strict health regulatory agencies worldwide. Our significant investment in R&D has enabled us to have a positive impact on patient’s quality of life for more than 20 years.