Public and private sector authorities agree to strengthen the national pharmaceutical industry

Asunción, IP Agency.- The Ministry of Industry and Commerce (MIC), the Paraguayan Industrial Union (UIP) and the Chamber of the Pharmaceutical Industry of Paraguay, signed an agreement that aims to strengthen the national pharmaceutical industry, through the improvement of technical areas and the development of a study that reflects the reality of our country.

Minister Javier Giménez and the Vice Minister of Industry, Lorena Méndez, participated on behalf of the MIC; as well as the head of the UIP, Enrique Duarte and the president of Cifarma, Gerardo García, among other representatives of the sector.

The agreement includes areas such as sector studies, analysis of productive factors, evaluation of socioeconomic impact, identification of challenges and opportunities and formulation of strategic recommendations for the sector.

The Minister of Industry and Commerce stated on the occasion that public policies must be clear towards free competition, development, and protection of investments, especially in an emblematic sector of Paraguay.

Dynamism of the pharmaceutical sector

Giménez highlighted that the pharmaceutical sector moves around USD 300 million a year, adding exports and imports, in addition to regarding 4,000 direct jobs.

For his part, Enrique Duarte from the industrial union maintained that an important leap is being made in the development of the country, especially within a work scheme that is public-private participation; in addition to renewing the UIP’s commitment to working together for the development of the country.

Likewise, the president of Cifarma, Gerardo García, highlighted that in Paraguay there are 26 authorized laboratories, of which 18 operate within the pharmaceutical chamber that he presides, covering 70% of the national formula, with competitive prices.

He also highlighted the investment opportunity generated by Law 60/90, which allows them to expand their businesses in the country.

In 2023, pharmaceutical products worth USD 57 million were exported abroad and were destined for Ecuador, Bolivia, Peru, Brazil, Panama, Mexico, Uruguay, Chile, Colombia and Venezuela, according to data provided by Cifarma, reported the Ministry of Industry and Commerce.