Pharmaceutical imports from Cuba grows 2.61% in five years

As recorded by the Venezuelan National statistics Institute (INE), imports of pharmaceutical products from traditional suppliers such as Germany, Switzerland, Argentina, Uruguay, Brazil, and the United States have reported no change.

On the contrary, imports from Cuba have grown rapidly. While in 2006 they stood at USD 10.7 million, by the end of 2011 they amounted to USD 292 million, a 2,613% increase.

Traditional suppliers certainly did not match such growing export rate to Venezuela as Germany reported 204%, Switzerland 128%, the United States 153%, and Brazil 201%.

Sources revealed that purchases from Cuba are exclusively made by the State. "I doubt people import from Cuba; it is not the most competitive market to import; it is not consumer's number one market," said an entrepreneur who preferred not to be identified by name.

Cuba, main supplier

As to 2012, the INE discloses that imports from Cuba are as relevant as those from Germany, a potential supplier within the pharmaceutical industry.

Yet, so far this year, purchases from Cuba amount to USD 126.3 million, nearly USD 4 million more than what has actually been imported from the European nation. "It is not reasonable to keep Cuba at the same level," said the source. Moreover, imports from Cuba also triple those from Switzerland and (40%) those from Brazil.

The only country currently outnumbering Cuban exports to Venezuela is the US, totaling USD 156.6 million so far.

Another entrepreneur who asked not to be named stated that Cuba "produces some sort of drugs only" and those are imported in compliance with the agreements entered into by Cuba and Venezuela.

The source went on and outlined that Cuba has also been exporting medical equipment, most of which is made elsewhere, therefore, it has been "re-exporting." Some drugs have not been the exception. "Purchases from Cuba are highly irregular; nothing is produced by the island."

rdeniz@eluniversal.com

Translated by Jhean Cabrera