Industry experts called for increased investment and enhanced competitiveness in Latin America’s biopharmaceutical sector during a regional forum this Wednesday. They emphasized that strategic public policies and specialized talent development could transform the region into a global health hub, driving economic development and improving life quality. The forum, titled ‘From the Medical Prescription to the Economic One: The Potential of the Pharmaceutical Industry as an Investment Engine in Latin America,’ was organized by EFE.
The discussions were anchored by the newly released 2025 Biopharmaceutical Competitiveness & Investment (BCI) Survey. This report provided a data-driven backdrop, revealing Latin America’s average competitiveness score sits at 59 percent. The findings highlight a critical moment for the region to capitalize on shifts in global commerce and supply chains.
“If we travel from Mexico down to Tierra del Fuego in Argentina, we will see the possibility for many biotechnological and Biopharmaceuticals developments that could be incorporated and enhanced with investment from the innovative industry,” said Lucas Lehtinen, director of the Austral University’s Intellectual Property Center. [Translated from Spanish]
The survey’s author, Meir Pugatch, reinforced this view. Pugatch, a professor at the University of Maastricht and managing director of consultancy Pugatch Consilium, advised a focused approach for regional leaders. He suggested concentrating on improving financing, market access, and innovation protection while continuing to build clinical and scientific capabilities.
Widening Gap in Regional Competitiveness
A concerning trend emerged from the BCI data. The gap between the region’s most advanced and most lagging countries has widened by more than 20 percent since the last regional survey in 2017. This divergence underscores the uneven pace of policy and infrastructure development across Latin America.
Costa Rica now leads the regional ranking, surpassing Chile with a score near 70 percent. Mexico also placed among the top performers. Other nations, however, struggled to break the 55 percent threshold. Pugatch highlighted Costa Rica’s achievement as a positive model for the region, noting a high level of alignment between government and industry executives on the need for sectoral improvement.
“I believe this is the first time since we started the BCI that Costa Rica has surpassed Chile. If you look at the perspective of executives and the government, there is a high level of alignment in the sense that they think alike regarding the need to improve this biopharmaceutical area,” Pugatch stated. [Translated from Spanish]
In stark contrast, Colombia received one of the lowest ratings. Its competitiveness score fell to 53 percent, a three-point decline from 2017. Eduardo Muñoz, a former Colombian Vice Minister of Foreign Trade, attributed this performance largely to a lack of political will.
“Unfortunately, politics sometimes interferes and damages what could be good public policies. I am afraid that is something we are seeing at this moment,” Muñoz asserted. [Translated from Spanish]
He insisted on the necessity of reinforcing cooperation among different actors in the biopharmaceutical ecosystem. Strengthening Intellectual Property protection and expanding market access are also vital, a point echoed by other panelists. This situation in Colombia mirrors challenges seen in neighboring nations, where policy stability is crucial for long-term investment, similar to recent security cooperation successes with costa rica.
Seizing a Global Leadership Opportunity
Beyond the numbers, forum participants stressed the human impact of these policies. Yaneth Giha, executive director of Fifarma, reminded attendees that behind every competitiveness index score are the people who depend on medical innovation. She argued that intentional investment in science and cross-sector collaboration yields significant progress.
Giha identified three critical areas for regional improvement. These include bolstering intellectual property rights, reducing regulatory approval times, and increasing predictability in public policies. She expressed strong optimism about Latin America’s potential to become a protagonist in the global biopharmaceutical landscape.
“When a country sets out to improve in any of the areas surrounding the sector, the improvements are seen very quickly. It does not take decades,” Giha explained. [Translated from Spanish]
She pointed to successful research initiatives at institutions like the University of São Paulo as evidence of the region’s existing capacity. The task now is to scale these isolated successes into a coordinated regional strategy. This requires aligned regulatory frameworks, incentivized investment, and a firm commitment to ensuring patients benefit from research breakthroughs.
The consensus among experts is clear. Latin America stands at a crossroads. With strategic focus on key competitiveness drivers, the region can rapidly transform its potential into reality, securing a more prominent role in the global health industry and fostering sustainable development for its citizens.