Brazil's president invites pharma investment

A few days back, we let you in on news about Russia's pharma market. Today, it's Brazil. As last week closed out, Brazilian President Luiz Inacio Lula da Silva called for more investment in the pharmaceutical industry. That's practically a clarion call to Big Pharma to pair up with Brazilian drugmakers and pump resources into that market, which already is pegged as one of the fastest-growing on the globe.

It's similar to what's going on in Russia: Recognizing that it imports much of its medications, Brazil wants to grow its domestic pharma business. Big Pharma is likely to volunteer its help in doing so, by setting up joint ventures with Brazilian drugmakers and establishing facilities in the country, just as it is doing in Russia.

Big Pharma already has made forays into the Brazilian market. Sanofi-Aventis' acquired Medley, third-largest in the country overall and Brazil's No. 1 generics-maker. At the time of the buyout agreement, Sanofi touted Medley's ability to capitalize on 20 percent annual growth in the domestic generics market--and its own position as No. 1 pharma in Brazil with 12 percent of the market. Count on more deals like that as 2010 wears on--and Big Pharma continues its push into emerging markets.

- see the story from Xinhua

ALSO: China has told India that it will begin taking steps to open up its pharma market to Indian drugmakers. Report