Costa Rica Pharma Market

Costa Rica

Costa Rica is a country ranked 1st in Latin America in education with a 98% literacy rate & health. Public health in Costa Rica presents high standards, compared even with developed nations. Costa Rica has good infrastructure, stable economic & political systems, a high education level, low local costs for land & labor, divided into 7 provinces.

Costa Rica has positioned itself as one of the leading countries in Latin America for companies in industries like medical devices, pharmaceuticals, aerospace, electronics, & light manufacturing.

Costa Rica remains an attractive location for pharmaceutical manufacturing in Central America, with stable institutions and relatively high spending on medicine per capita.

Public health spending represented 6.8% of GDP; USD 1400 per capita.

Costa Rica is among the countries with high human development. Costa Rica ranked 5th in Latin America on Human Development scale  as a result of heavy public social investment.

Capital

San José

Population

5Mn

Language

Spanish

Currency

Costa Rican Colón.

1000 Cota Rican Colon equivalent to USD 1.76

International Borders

Costa Rica has Strategic location – it acts as a bridge between North, Central, and South-America. The US is nearby with a 2:50hr flying time to Miami. Costa Rica provides free access to the EU & US market, also to other vital markets like China through free trade agreements.

Leading causes of death, Costa Rica

1.     Ischemic heart disease

2.     Cerebrovascular diseases

3.     Chronic lower respiratory diseases

4.     Cirrhosis and other diseases of the liver

5.     Diabetes mellitus

Market Value in USD  

The pharmaceutical market in Central America is consisting of the seven markets: Costa Rica,  El-Salvador, Guatemala, Honduras, Nicaragua, Panama and Belize.  Central American nations imported USD 2.993 Bn worth of medicines & medical supplies, of which majority approx 30% came from the United States, Mexico and Germany.

Costa Rica Pharma market value approx USD 900 Mn.

Costa Rica Pharma market ranks the 2nd largest in Central America after Guatemala. Although it’s a small market with 5 Mn consumers but open market dominated by MNC’s branded drugs in the private market.  

Data shows the pharmaceutical purchase in Central America from Jan 2019 to Sep 2019 was as follows:

1)    Costa Rica USD 611 Mn

2)    Panama USD 524 Mn

3)    Guatemala USD 489 Mn

4)    Honduras USD 381 Mn

5)    El Salvador USD 346 Mn

6)    Nicaragua USD 269 Mn

Costa Rica is the 2nd largest medical devices exporter in Latin America, also it is one of the best locations for high technology operations in the world.

Market Growth

CAGR Around 3%

Type of market            

Medicine import driven market with increase in imports from 5-10% per annum. The US is the biggest drug exporter to Costa Rica. The pharmaceuticals market in Costa Rica is highly regulated. In order to produce and sell pharmaceuticals, vendors need to comply with a long list of requirements and pass laboratory tests from the Ministry of Health.

There is a 100% exemption on import raw materials, equipment, components on local & export taxes, profits repatriation & excise taxes.

Pharmaceutical Companies:

In Costa Rica the culture of self medication and overuse pharmaceutical drugs is high. The three most popular and well known pharmacy chains are:

• Farmacia Sucre
• Fishel (Many locations but is one of the most expensive)
• Farmacia La Bomba (one of the least expensive)

In Costa Rica there are 250 manufacturing companies of which more than 70 are medical device producers (national & foreign), more than 25 importers, 221 distributors, and 1167 private retail pharmacies (independents and chains) in addition to the public pharmacies by the CCSS and the Instituto Nacional de Seguros (INS) – state insurer that runs public hospitals and clinics for its insured.

In January 2020, Government planned to introduce a “Bill” to lower the Price of Medicines. At present there is no price control at the level of importers, domestic producers or retailers, due to this the medicines to be sold either at very cheap or very high price.

MNC’s having manufacturing units in Costa Rica include:

§ Aspen Pharma

§ AstraZeneca

§ Baxter

§ Bayer

§ Merck

§ Pfizer

§ Roche.

Leading pharmaceutical manufacturing in Costa Rica firms are Gutis and Speratum.

Other Renowned companies:

Abbott, Gutis , Cofarma , Newport, Calox de CR, Knoll , Rotta , Chinoin, Lab. Leo , Salvat, Dipac, Lab. Zepol, Dist Ancla Varios, Lancasco, Sankyo, Ely Lilly, Maja, Sanofi - Aventis, Faes, Mepha, Schering Plough, Ferrer, Merck Alemana, Servier, Genfar, Novartis , Om Pharma, Quiflo Com. SA, Grunenthal

Chain of Pharmacies / Distribution Companies:

§ CONDEFA – Distribution

§ COFASA – Manufacturing & Distribution (own more than 80% of the country's pharmacies)

§ CEFA

§ CALOX - Manufacturing

§ CORP FACEME

§ FARMACOOP

Indian companies having products registered in Costa Rica are – Ind-swift Ltd, Cipla, U-Square, Dr. Reddy's, Cipla, Hetero, Gracure, Stantech, Aurobindo, Gland, Karnataka Antibiotics & Pharmaceuticals, Mylan India, Syldler Remedies, The Himalaya Drug, Windlas Biotech,

Company Agent & Importer

SAGA LABORATORIES_(INDIA) - Drogueria Europea, Sociedad Anónima

Centaur Pharmaceuticals - Grupo Salud Latina Sociedad Anonima - Isfarma Internacional Sociedad De Responsabilidad Limitada - Panamedical De Costa Rica Sociedad Anonima Zp / International Sociedad De Responsabilidad Limitada

FOURRTS (INDIA) LABORATORIES PVT. LTD - Grupo Salud Latina Sociedad Anonima - Isfarma Internacional Sociedad De Responsabilidad Limitada - Panamedical De Costa Rica Sociedad Anonima. Zp International Sociedad De Responsabilidad Limitada

Protech Biosystems PVT. LTD. - Newport Pharmaceutical, Costa Rica

Brawn Laboratories Limited - Infarma Limitada  / Marpel Pharma S.A

Mepro Pharmaceuticals Pvt. Ltd - Zp International Sociedad De Responsabilidad Limitada , Marpel Pharma S.A.

MSN LABORATORIES PRIVATE LIMITED - Owaccess Sociedad Anonima, Corporación Np Pharma S.R.L.

Sakar Healthcare Limited - Ecopharmed Sociedad Anonima

Aishwarya Lifesciences - Medicines Solutions Limitada

Vee Excel Drugs & Pharmaceutical (P) Ltd. - Inversiones Y Desarrollos Morro, S.A

Macleods Pharmaceuticals Ltd. _India - Drogueria Europea, Sociedad Anónima

Alkem Laboratories Limited - REGISTRA (REGRUFA) SOCIEDAD, Sanofi - Aventis de Colombia Farmavisión S.A

Stantech Pharmaceuticals Pvt. Ltd. - BIOTECH PHARMA SOCIEDAD / BIOTECH PHARMA S.A. - Combinadabat S.A. - Global Health de Costa Rica S.A. - LABORATORIOS STEIN S.A - MIleniumfarma S.A. - Multipharma Sociedad Anonima - Net Medical Solutions S.A. - PREEMPREPLAZA - Pharmahealth S.A. - Respifarma S.A.

Bharat Serums and Vaccines Limitedb - SEVEN PHARMA LIMITADA/ CAJA COSTARRICENSE DE SEGURO SOCIAL - Seven Pharma Limitada

Titan laboratories pvt. Ltd - VMG PHARMA, SOCIEDAD ANONIMA/ COMECEN - DISTRIBUIDORA FARMACéUTICA CENTROAMERICANA DIFACE S.A - EVA REPRESENTACIONES ER S.A. - VMG HEALTHCARE PRODUCTS SOCIEDAD ANONIMA - VMG Pharma SA

Sydler Remedies Pvt. Limited- ARNOLDO RICARDO ANDRE TINOCO/ BIOTECH PHARMA S.A. - Combinadabat S.A. - Global Health de Costa Rica S.A. - LABORATORIOS STEIN S.A - MIleniumfarma S.A. - Multipharma Sociedad Anonima - Net Medical Solutions S.A. - PREEMPREPLAZA - Pharmahealth S.A. - Respifarma S.A

AUROCHEM PHARMACEUTICALS (I) PVT.LTD - NUTRI MED SOCIEDAD ANONIMA / BIO- TECH PHARMA SOCIEDAD ANONIMA

*Only few Indian companies are captured / Data of registered products with validity available 

Pharmaceutical Exports

Costa Rica’s pharmaceutical manufacturer produces a wide variety of products like capsules, creams and ointments, injectables, solid and semi-solid tablets, suppositories and liquids.

§ 2% diagnostic, regents & vaccines

§ 41% Antiserum,

§ 56% Pharmaceuticals.

In 2017, Costa Rica become top exporter of Medical Devices surpassing agriculture products, with more than 70 medical devices companies like Baxter, Medtronic, Allergan, Boston Scientific and Hologic.

FDA:

Ministerio de Salud

The drug is tightly controlled in Costa Rica, and standardized region-wide efforts are harmonizing regulations through Red Pan Americana Para la Armonización de la Reglamentación Farmacéutica should, in theory, mitigate differences in registration and controls processes throughout Central America.

Registration Time

12 to 15 months to register a product

Registration Fees

USD 500 per product

Registration Validity

5 years

Dossier

CTD – Zone IVA Stability

Plant Inspection

CTD – Zone IVA Stability

Tender:

The Costa Rican Institute of Social Security popularly known Caja (Costarricense de Seguro Social-CCSS) is the government’s 2nd largest entity that it the tender body which procure products & services (drugs, pharmaceuticals, medical equipment, supplies, etc). Thus, CCSS is the biggest tender body. Through Costa Rican Bureau of Social Security (CCSS) all Costa Rican nationals can receive free medical treatment at a large number of hospitals and clinics.

Almost 90% Pharma Products and Medical Devices are purchased by the Social Security System and national hospitals & 10% remaining is private.

Health insurance covers 85- 90% of the total population. 

Dr. Palak Gupta

+91 9971140354

[email protected]