Novartis to promote clinical research in Mexico

 18-Nov-15

Novartis has signed a letter of intent with Mexico's Ministry of Health (Secretaría de Salud) aimed at intensifying co-operation in clinical research and joint solutions for health services in Mexico. Novartis will invest USD50 million in clinical research locally over the next half-decade.

Image: Mexico Daily News

This marks the second collaboration agreement signed this month by Novartis with the Mexican government, as the pharmaceutical company also entered into a co-operation agreement with the Mexican trust fund ProMéxico. These two agreements are the result of Novartis' announced business strategy of increasing research and development (R&D) in Mexico.

The Mexican pharmaceutical industry is a vibrant and strategically important market for any pharma company seeking to consolidate its position across Latin America and reduce R&D costs. However, the Mexican market holds challenges – such as the fluctuation of local currency, and the reduced number of innovative medicines included in the mandatory healthcare plan.

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