Global Health Progress (GHP) released a new report that reveals how the biopharmaceutical sector in Brazil, the tenth largest biopharmaceutical market in the world and the largest in Latin America, is an important driver for its economy. For instance, Brazil’s biopharmaceutical sector develops high-quality, highly skilled jobs, which is a key factor in creating a stable economy. Currently, approximately 821 biotechnology companies in Brazil employ almost 100,000 people with an average annual salary of approximately US $4,457. Among those companies, six biopharmaceutical companies were featured in a 2003 list of the top 100 companies to work for in Brazil.

Not only does the biopharmaceutical sector produce valuable job opportunities for highly skilled workers, this emerging market plays a critical role in fostering public-private partnerships, which leads to more economic growth and greater access to healthcare for its citizens.

Investment in research and development (R&D) and promoting innovation are key ways the Brazilian government is helping drive future growth of the country’s biopharmaceutical sector. For instance, R&D investments in Brazil have increased to 1.5% of GDP in 2010 and there are more than 205 highly trained physicians per 100,000 of the population serving as investigators for clinical studies.

“In Brazil, promoting innovation is a public policy priority,” stated Rafael Oliva, Advisor to the Presidency at the Brazilian Development Bank. “The participation of the Brazilian government in research and development (R&D) is considerable, and the goal is to both increase innovative activities in Brazil on a systematic basis, and to consolidate the country’s culture of innovation.” GHP fact sheet shows how Brazil’s investment in research and development (R&D) will create positive effects throughout the economy, including improving access to healthcare for its citizens through the production of new medicines. The growing field of clinical trials is also a significant factor in improving access to healthcare. Brazil’s large population of 190 million people, with 8 out of every 10 residents living in or near a city, means clinical trial recruitment and participation is fairly robust.

Via EPR Network
More Healthcare press releases