Sales of generic medicines increase 19% in volume and reach nearly US$ 2 billion in 2008
Folha de S. Paulo 02/12/2009
The sector of generic medicines grew 18.9% in 2008. Last year the companies sold 277.1 million units in retail, compared to the 233 million of the previous year, informed the Brazilian Association of the Generic Medicine Industry. In 2008, the industries of the sector had a turnover of US$ 2 billion, an increase of 33% compared to 2007 (US$ 1.522 billion). The increase was well-above the increase of the medicines market as a whole, which grew 7.9% in products sold and 20.5% in cash value. In the evaluation of the president of the Association, Odnir Finott, the increase of the segment indicates the migration of consumers of brand medicines. "In times of crisis and cuts in the domestic budget, consumers end up finding a safe option in the generic medicines, which are much cheaper, to continue with their medical treatments. In the market share analysis, the generic medicines ended 2008 with 18% of market share in terms of units and 14.6% in value. For 2009, the projection is an increase between 10% and 15% and the goal of Pró-Genéricos is to reach 20% of the market.