Mexico’s most recent medication tender, which has been opened to international players such as India and China, is causing stress for the local pharmaceutical industry. The tender, valued at MX$17 billion (US890 million), will supply IMSS, ISSSTE, PEMEX, the Navy and other public institutions and has received over 200 bids. The Ministry of Health announced significant savings in the acquisition of HIV medication and also began to transfer funds to support public hospitals and clinics in 31 states.
In international news, AbbVie will acquire Allergan to the displeasure of investors and a US developer of neuropsychiatric medicines debuted in NASDAQ.
Don’t miss last week’s highlights:
US based Karuna Therapeutic debuts in NASDAQ with a US$89 million IPO. The company is developing a therapy for schizophrenia.
The Ministry of Health announced MX$1.7 billion (88 million) in savings from the last acquisition of HIV medication.
To kickstart the Program for Healthcare Attention and Free Medication for the Population without Social Security, the Ministry of Health began the transference of MX$6.07 billion (US$312 million) to 31 states.
Mexico’s Treasury (SHCP) held on June 28 a tender for medicines and medical supplies, which received 227 bids from national and international players. The tender drew controversy due to its acceptance of offers form Chinese and Indian companies.
The Mexican Association of Pharmaceutical Laboratories (AMELAF) warned that said tender would hurt Mexican suppliers, eliminate local jobs and reduce investment in the local pharmaceutical industry.