Evolution Of Pharmaceutical Market Forecast Over 2012

BMI View: We still view Brazil's pharmaceutical market as one of the most attractive markets in Latin America and expect it to grow at a double-digit rate over the next five years, despite the depreciating local currency outlook. This is the key reason for the contraction of our pharmaceutical market forecast calculated in US dollar terms in 2012, as well as moderate downward revisions to Brazil's real GDP growth forecast. Multinational pharmaceutical companies will still benefit from the robust local market growth in the long term.

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