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Monday, June 16, 2008

Special Reports

Novartis: Healthy Latin Growth

Novartis is growing in Latin America thanks to medicines like Voltaren and Diovan and markets like Brazil and Venezuela.

SALES BOOST: Increasing purchasing power is helping boost Novartis sales in Latin America. Here a pharmacy in Mexico. (Photo: Wilhelm Heinz/IDB)

TALENT GAP: Finding good talent in Latin America is becoming a growing challenge, says Carlos Garcia of Novartis. (Photo: Wilhelm Heinz/IDB)

BY JOACHIM BAMRUD

Thanks to growing purchasing power and increased consciousness about health in Latin America, Swiss-based pharmaceutical giant Novartis is seeing strong growth in the region.

"2007 was good year for Novartis in Latin America and 2008 is so far panning out quite well," says Carlos Garcia, Latin American regional head for Novartis.

The company does not release Latin America revenue figures, but they grew by 11 percent last year, Garcia says.

VENEZUELA JUMP

Venezuela, its third-largest market in Latin America, is by far the fastest-growing one, measured in dollar terms. "The strongest growth – for the last 24 months – is Venezuela," Garcia says. "That is because they have high...

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Keywords: Argentina, Brazil, Colombia, IMS, IPR, Latin American outlook, Mexico, talent, Venezuela

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