Grünenthal Plans Latin American Investment

CFW View: Multinational drugmakers are increasingly seeking expansion in Latin America to reduce their dependence on the slow-growing markets in Europe and the US. The region's two largest pharmaceutical markets, Brazil and Mexico, will provide many opportunities for them. We see the Brazilian market as robust in long term, though the attractiveness of Mexican market will reduce due to fiscal pressure and business environment deterioration. We forecast that within six years, Argentina will replace Mexico as the region's second largest pharmaceutical

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