Accutest Research Laboratories, a global CRO, has continued its strategic expansion into Latin America by opening offices and establishing operational presence in Brazil.
Market surveys indicate that Brazil is one of the fastest-growing pharmaceutical markets globally, with a population of more than 200 million, an investment-friendly environment, an effective patent protection regime and a relatively low incidence of spurious drugs. The pharmaceutical market of Latin America’s largest economy is projected to reach sales of up to $46 billion by 2018, growing at a CAGR of 12%.
Founder and CEO Dr. Satish Sawant said, “Opening offices in emerging countries to support drug development is a key element of our expansion strategy. We have identified seven emerging countries to develop operational capabilities, and by opening offices in Brazil, Malaysia and Taiwan we have completed our current expansion phase.”