Portugal: Riding the Wave of Economic Reform - Pharmaceutical Executive


Portugal: Riding the Wave of Economic Reform

Pharmaceutical Executive

The PharmaPortugal project aims to increase exports by 10% by the end of 2007. All the pharmaceutical companies involved in the project have a combined market share of 15%, representing 27% of the industry's workforce. This is the starting point of the government's ambitious goal to double the industry's exports in less than four years. The strategy behind the industry's internationalization is to build on the existing export capability of the 15 companies involved in the project and develop a common brand to capitalize on the markets where Portugal is traditionally strong, such as Brazil, Spain and the United States.

Next Stop, Luanda
The so-called "PALOP" countries (African Countries of Portuguese Official Language) are a major target of this strategy. On top of that, the interesting positioning of the Maghreb markets (Morocco, Algeria and Tunisia) led PharmaPortugal to promote road shows in the region in 2006. Emerging markets such as Poland and the Czech Republic are also on the agenda.

Laboratório Edol is a perfect example of what companies are trying to achieve by joining the PharmaPortugal project. This Portuguese company, which has been in the market for 54 years, is a market leader in ophthalmology and dermatology and now wants to showcase some of its expertise abroad. "Laboratório Edol was extremely benefited to associate its image with the PharmaPortugal brand. The company's small structure needs institutional support, which enables us to have a much greater visibility in external markets," explains Carlos Setra, general director of the company. "At the moment, the company is regularly exporting to the PALOP countries and to the Morroccan market. Furthermore, there is a partnership with a Brazilian company, Europhama, which manufactures generic products designated to the Brazilian and European markets."

In a time when price reductions and cost-containment efforts set the tone of the domestic market, for Portuguese companies such as Edol, to sail is indeed necessary.


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