Sales of pharmaceutical products have registered an average annual growth of 13.47% in the period 2010-2021. During these years, sales went from 17,016.7 million pesos to 67,658.3 million pesos.
In addition, pharmaceuticals contributed 0.62% of the total collections of the manufacturing sector in 2021.
According to the economic profile of the pharmaceutical products industry in the Dominican Republic, published by the Vice Ministry of Industrial Development of the Ministry of Industry, Commerce and Mipymes (MICM), in the case of 2020, sales registered an “extraordinary” growth of 21.1%, driven by the demand for products to combat the coronavirus pandemic covid-19. For 2021 the growth was 18.8%.
The report adds that the sales of pharmaceutical products increased their average participation in the total sales of the manufacturing sector, from 4.25% in the period 2010-2015, to 5.65% during 2016-2021, reaching a maximum of 5.65% in 2020, under the pandemic scenario.
The official document explains that during the 2010-2021 period, the total internal collections of the pharmaceutical products industry sustained an average growth rate of 18.4%.
Likewise, during 2021, its growth was 59.8% compared to 2020, and 61.3% compared to 2019. Collections went from 2,759 million pesos in 2020 to 4,410 million pesos in 2021.
He explains that the “extraordinary” amount in the collections of 2021 is explained by a growth in the income tax to legal entities of 111%, which represents 54.3% of all collections in the sector, followed by the growth of 33 % in the Tax on Transfers of Industrialized Goods and Services (Itbis), which represent 11.1% of collections pharmaceutical.
The participation of the collections of pharmaceutical products in the total internal collections of the manufacturing sector went from 0.46% in the period 2010-2015 to 0.60% during the 2016-2021 period. For 2021, the participation in product collections amounted to 0.73%.
The document indicates that the pharmaceutical products subsector is made up of 378 industries.
Greater Santo Domingo concentrates 74% of the pharmaceutical product industries, the National District 45% and Santo Domingo 29%, followed by Santiago with 17% and the rest of the country with 9%.
Regarding the size of pharmaceutical companies, 46% are micro, 16% large, 14% small and 3% medium. Likewise, 97.6% of these industries are locally manufactured, while the remaining 2.4% are free zones.
In the publication of the Vice Ministry of Industrial Development of the MICM, it is indicated that the pharmaceutical products industry has increased the number of contributors from 10,147 in December 2014 to 14,455 in December 20216.
Likewise, the participation with respect to the total number of contributors in the manufacturing sector went from 2.75% to 3.37% in the indicated period.
Regarding the pandemic, the document explains, the pharmaceutical products industry has exhibited a remarkable performance. By December 2021, the sector had already recovered more than 100% of its jobs compared to the level of December 2019, prior to the application of physical distancing measures that negatively impacted companies and the effects of the covid-19 in the world economy.
As of December 2021, jobs in the sector had grown by 8.9% compared to December 2019.