Government Initiatives to Foster Innovation and Attract More Investment
Vidal Llerenas, the Undersecretary of Industry and Commerce at Mexico’s Secretariat of Economy, announced that the federal government is examining public-private partnership (PPP) schemes to attract greater investment in the pharmaceutical and medical device industries. This development was shared during the Fifarma Annual Summit 2025, organized by the Latin American Pharmaceutical Industry Federation.
Key Government Initiatives
- Tax Incentive Program: A tax incentives program will be introduced to encourage innovation projects within the industry.
- Plan Mexico: The government is working on various initiatives under Plan Mexico to make these industries more attractive by improving regulations and removing obstacles.
- Cofepris Reforms: The Federal Commission for Protection against Health Risks (Cofepris) has reduced the time to approve clinical trial protocols from 115 days to 40 days, and plans to replace permits with simpler avisos.
- Podecobi Initiative: The government aims to bring the pharmaceutical industry to regions where it currently has no presence through Polos de Desarrollo Económico para el Bienestar (Podecobi).
- Generic Medicine Production: The government intends to promote the national production of generic medicines in therapeutic areas such as diabetes and hypertension.
Benefits of Government Initiatives
These initiatives are expected to make Mexico a more appealing investment destination, leading to increased investment in the pharmaceutical and medical device sectors. Llerenas emphasized that Mexico is committed to doing everything possible to encourage more investment, hoping the industry will respond with increased capital.
Mexico’s Strengths in the Pharmaceutical Sector
Llerenas highlighted Mexico’s advantages in the pharmaceutical industry, including a skilled workforce with research capabilities and manufacturing experience. He expressed interest in both domestic investment and local research, aiming to create more jobs, increase manufacturing, and establish collaborative frameworks between the government and industry.
Key Questions and Answers
- What are the government’s plans to boost investment in the pharmaceutical and medical device industries? The government is exploring public-private partnerships, introducing tax incentives for innovation projects, reforming regulations through Plan Mexico, and promoting local production of generic medicines.
- How will these initiatives benefit the industries and Mexico? These measures aim to make Mexico a more attractive investment destination, foster innovation, and create jobs in the pharmaceutical sector.
- What specific reforms has Cofepris implemented? Cofepris has cut the time to approve clinical trial protocols from 115 days to 40 days and plans to replace permits with simpler avisos as part of administrative simplification.
- Why is the government focusing on generic medicine production? Producing generic medicines will lower drug prices, enable the government to purchase medications at lower costs, and leverage Mexico’s skilled workforce with research and manufacturing capabilities.
