Pharmaceuticals in Latin America and the Caribbean : Players, Access, and Innovation Across Diverse Models
Pharmaceutical products have contributed to longer life expectancy and better quality of life in Latin America and the Caribbean. However, they often account for a significant share of household expenditures, especially among the poor and those fac...
| Main Authors: | , , |
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| Format: | Working Paper |
| Language: | English |
| Published: |
World Bank, Washington, DC
2022
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/undefined/766131641877985994/Pharmaceuticals-in-Latin-America-and-the-Caribbean-Players-Access-and-Innovation-Across-Diverse-Models http://hdl.handle.net/10986/36871 |
| Summary: | Pharmaceutical products have
contributed to longer life expectancy and better quality of
life in Latin America and the Caribbean. However, they often
account for a significant share of household expenditures,
especially among the poor and those facing catastrophic
health shocks. And they are not always accessible, as
dramatically exposed by the Covid-19 pandemic. This mixed
record can be linked to the workings of the pharmaceutical
sector, an issue that has not received much attention in
policy discussions. This paper identifies the sector’s key
domestic and foreign players, and analyzes its local output,
international trade, and price levels. It also documents
government policies, including intellectual property rights,
regulatory oversight, and public procurement. An important
contribution of the paper is to show the significant
scientific capacity of the region, especially in relation to
biological products - including vaccines - whose intrinsic
heterogeneity challenges intellectual property rights
protection. Based on this diagnosis, the paper flags three
sets of issues for policy makers to consider. Relatively
uncontroversial measures include strengthening regulatory
authorities, promoting the use of generics, and upgrading
public procurement. Other areas, such as supporting R and D
and regulating prices, involve tradeoffs. Finally, there are
strategic choices to be made, with some countries in the
region favoring stringent intellectual property rights,
while others support national champions or rely on state entrepreneurship. |
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