PXL/HO/Cir-149/2021-22                                                                            Date: 11.03.2022

Hyderabad

Dear Sir/Madam,

Subject: Opportunity for Investment in Pharmaceutical Sector in Panama

Members are kindly aware that Pharmexcil is closely working with the Indian Embassy in Panama and had organized a virtual webinar and B2B during January 2022 which has gained traction among business stakeholders of Panama and created momentum for our exports.

We understand from  Embassy of India, Panama that "Panamanian Ministry of Health has authorized some provisions in the strategy to fight COVID-19, including the possibility for companies and businesses to carry out home tests to detect the virus, which are already endorsed by the commemorative Gorgas Institute, an entity dedicated to Health Research and Disease Prevention in the country. The decree signed by President, Mr. Laurentino Cortizo establishes that swab centers could be created to carry out this type of test. If the test is negative, people can continue, but if the result is positive, they must go to a Public or Private swab center to perform an antigen or PCR test to confirm the diagnosis".

 As India has one of the largest Industries in this segment and Panama has great potential to become the pharmaceutical headquarters of Latin America. This is an opportunity for Indian Medical and Pharmaceutical Industries to create a link with the Panamanian Private and Gubernatorial Institutes to distribute these home tests.

Member companies dealing with these test kits may take advantage of this opportunity and can collaborate with the Embassy of India in Panama (email ID:com.panama@mea.gov.in) and connect with them for more details.

With regards

Uday Bhaskar

Director General