Korean Pharmaceutical Bio Association Holds Briefing on Entering Brazil's Pharmaceutical Market Worth 27 Trillion Won

Co-hosted by the Korea Pharmaceutical and Bio-Pharma Manufacturers Association, the Embassy of Brazil, and KOTRA

[Asia Economy Reporter Myunghwan Lee] The Korea Pharmaceutical and Bio-Pharma Manufacturers Association announced on the 9th that it will hold an online "Brazil Pharmaceutical Market Entry Briefing" for domestic pharmaceutical and bio companies starting at 9 a.m. on the 17th.

Co-hosted by the Association, the Embassy of the Republic of Korea in Brazil, and the Korea Trade-Investment Promotion Agency (KOTRA) S?o Paulo Trade Center, this briefing aims to highlight trends in Brazil's pharmaceutical and bio industry and present opportunity factors for domestic companies to enter overseas markets.

First, Mr. Doo-ok Choi, Manager at KOTRA S?o Paulo Trade Center, will present on "Opportunity Factors for Entering the Brazilian Pharmaceutical Market." Next, Mr. Hongju Yoon, Deputy Manager of Celltrion Healthcare Brazil, will introduce "Experience with Public Pharmaceutical Bidding in Brazil and Participation Methods." Lastly, Mr. Byungjin Kim, Head of the Nabota Business Center at Daewoong Pharmaceutical, will present "Daewoong Pharmaceutical's Export Cases to Brazil and Implications."

According to the Korea Health Industry Development Institute, the Brazilian pharmaceutical market size is $22.5 billion (approximately 27 trillion KRW), boasting the largest scale in Latin America. The Association explained that continuous growth is expected due to the increasing elderly population, expansion of public healthcare coverage, and rising incidence of chronic diseases. Domestic pharmaceutical and bio companies are also entering the Brazilian market through various methods such as product development partnerships (PDP) with local companies and establishing local subsidiaries.

This briefing will support domestic pharmaceutical and bio companies wishing to enter the Brazilian market by sharing not only market trends but also cases of companies that have directly entered the local market and experiences overcoming barriers.

An Association official stated, "Since the Brazilian market serves as a foothold for entering the Latin American pharmaceutical market, we hope this briefing will be an opportunity for domestic pharmaceutical and bio companies to explore strategic measures for entering the Brazilian and Latin American markets."

This content was produced with the assistance of AI translation services.