There is an increasing growth of number of pharmaceutical companies in Dominican Republic due to a combination of factors such as tax incentives, free trade zones, and favorable government policies. Most of the pharmaceutical products consumed in the country are produced by the national companies.
In most of the Central America & Caribbean region, the pharma market is dominated by the multinational companies, but the Dominican pharma market is dominated by the local and generics market. The products are cheaper and accessible.
The pharma market in the Dominican Republic is valued at over US $700 million. Countries like the US, Puerto Rico, Japan, China, Germany, and the Netherlands import pharmaceutical products from the Dominican Republic.
