The winds of globalization have finally reached the Indian shore and we are witnessing the birth of the Indian multinational. The Indian pharmaceutical industry, as per a recent Business Standard report states, is ranked 4th in terms of volume and 13th in terms of value. This industry is now gearing up to explore newer markets across the globe. Mexico is an attractive destination for this growing industry. This article explores the untapped potential and opportunities in the Mexican pharmaceutical industry and provides guidelines for Indian companies who wish to exploit this opportunity. The authors, through their suggestions, try to propel the Indian pharmaceutical companies towards success in this market, by identifying product segments based on the strengths of the Indian industry.

In 2004, Teva acquired Sicor and Lemeri. Between January and February 2005, Ranbaxy and Wockhardt announced their Mexican joint venture plans. Darby Overseas also acquired 53.3% of Laboratories Kendrick, the second largest local generic producer. In September 2005, Dr. Reddy's announced an agreement to acquire Roche's Mexican API business.

"This collaboration will enable us to expand the market reach of our specialty injectibles portfolio to cancer patients in several emerging markets around the world. The alliance will positively impact Zenotech in speeding up its own biogenerics development program", said Dr. Jayaram Chigurupati, CEO of Zenotech Laboratories. As per this alliance, Ranbaxy will market Zenotech's injectable oncology products under its own label in important LATAM countries like Mexico and Brazil. This increased impetus of Indian Pharma companies on LATAM markets has made Mexico a favored destination for companies seeking greener pastures. Mexico is a part of LATAM, which is an extremely promising region for the international pharmaceutical industry. The international pharmaceutical industry has continuously invested in Latin America, and most major companies have made their presence felt in the region.

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