New business opportunities through LatinPharma 2011
LatinPharma, an international conference and business matchmaking event took place in Lima, Peru form 22 to 24 November.
The objective of regional meetings such as LatinPharma 2011 is to increase the trade supplies of natural and essential medicines and to promote the integration and development of the Latin American pharmaceutical industry. A highlight is the buyers/sellers meeting, where laboratories, exporters, importers and distributors are provided a platform to have one-on-one meetings to build new business partnerships and explore business opportunities. The buyers/sellers meeting also provides participating companies with an opportunity to have a better understanding of regional market conditions and business practices
Pharmaceutical firms across Latin America negotiated millions of dollars in new business deals with each other for traditional medicines and natural products at LatinPharma 2011. The event concentrated on intra-regional trade in essential drugs and natural products. During LatinPharma 2011, producers, buyers and distributors of pharmaceuticals and natural medicines from all over Latin America had the chance to build business opportunities. Since the first edition of LatinPharma in 2002, the objective of the event is the development of South-South trade by establishing real commercial linkages within the region.
- Over 140 participants from 96 enterprises participated in LatinPharma 2011.
- Over 700 bilateral meetings were held during the two and a half day event.
- 36 companies out 96 (37% of the total number of participants) were either offering, buying or looking to distribute natural products and/or natural ingredients.
- Participants reported between USD 2,075,000 and USD 4,330,000 under negotiation as a direct result of the bilateral meetings.
- Participants indicated that over 95% of these initiated deals would be realized with high and very high certainty while less than 4% of the amount would be transacted with average certainty.