Currently, local manufacturers do not have the capacity to produce and supply the Panamanian market, which has generated several business opportunities for several companies.

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At the Central American level, the Panamanian market is the third country that buys more pharmaceutical products abroad. According to reports from CentralAmericaData, during 2018 the main buyer in the region was Costa Rica, with $777 million, followed by Guatemala, with $656 million, Panama, with $620 million, Honduras, with $500 million, Nicaragua, with $375 million and El Salvador, with $364 million.

In this context, the Foreign Trade Promoter of Costa Rica, issued a commercial alert in which it explains that the situation of this market makes “… suppose that there are business opportunities that can be explored in greater detail and deepening by the Costa Rican export sector.”

With respect to the local market situation, Rafael Ortiz, general manager of Laboratorios Farmacéuticos S.A., told Elcapitalfinanciero.com that “… there is talk of bringing factories to Panama from abroad to lower the cost of medicines, however, those we have have quality standards and qualified local labor’, I am inclined to encourage the training of industrial pharmacists, as most remain in the medical visit or pharmacies.“