A PYMNTS Company

Ecuador: Rejecting pharma monopolies, Ecuador signs deal with China

By  |  February 9, 2016

Last Monday Ecuador announced a new cooperation agreement to be signed with China, totalling $53 million, which will allow Chinese-made medicines and vaccines to be distributed in the South American country. The agreement was signed by State-owned laboratories Enfarma, represented by Luis Monteverde, and Cui Jiao of China’s Sinopharm. The agreement will also re-start a vaccine-manufacturing plant in the country.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    “Today we have set out towards a new future of integral cooperation, not only in the supply and delivery of medicine and active ingredients, but also in investment, construction and operation of pharmaceutical factories” said Jiao.

    Eduardo Egas, Ecuador’s Industry and Productivity Minister, has said that “It will add… 14 additional vaccines (to the eight already made within the country), which will really help in taking care of the people’s health, especially during times like these, when many illnesses are around.” Other South American countries such as Bolivia and Cuba have signed similar agreements since 2014, hoping to break their dependence on international monopolies.

    Full content: Tn8

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.