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As of ***, Levothyroxine, a drug used to treat hypothyroidism, manufactured by the laboratory Montpellier, ranked first among the leading medicines sold in Argentina, reaching over **** million units sold. The drug Ibuprofen *** produced by the local subsidiary of the German multinational pharmaceutical company Bayer followed, with nearly **** million units delivered in the South American country. By that year, pharmaceutical expenditure amounted to around *** U.S. dollars per capita in Argentina.

The third largest pharmaceutical market in Latin America

  Despite facing high levels of inflation that put pressure on businesses and individuals, Argentina had a sound pharmaceutical sector with approximately *** laboratories, *** manufacturing facilities, and about *** thousand direct and indirect employees. Moreover, Argentina is the third largest pharmaceutical market in Latin America and the Caribbean, only after Brazil and Mexico, with an estimated value of around *** billion U.S. dollars as of 2021.

Pharmaceutical trade deficit

  The Argentinean pharmaceutical sector relies to a large extent on imports, reaching its highest trade deficit in pharmaceutical products in 2021, amounting to nearly **** billion U.S. dollars. Moreover, the import value of pharmaceuticals to Argentina totaled around **** billion U.S dollars in 2021, with the United States and China making up nearly one-third of the total pharma imports to the South American country, while Brazil and Uruguay were the main destinations of exports of pharmaceutical products from Argentina that year.