Mexico Registers US$2 Billion in Pharmaceutical Investments

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Researched by Industrial Info Resources (Sugar Land, Texas)--The Secretary of Economy of Mexico recently announced a series of investments by private companies within numerous industrial sectors in the country, including the pharmaceuticals industry, where more than US$2 billion in investments has been identified.

By state, the State of Mexico has more than 22% of the investments, or US$475 million. Nuevo Leon follows with nearly 20% in investments, or US$416 million; Queretaro has nearly 16% of the investments, or more than US$340 million; and Mexico City has more than 9% of the total investments, or more than US$199 million. Project investments in Baja California del Norte and Hidalgo are also outstanding, with more than 7% or US$155 million, and 7% or more than US$151 million, respectively.

In the State of Mexico, the most significant investment is the Sanofi vaccine plant in Cuatitlan Izacalli, for more than US$150 million. The French company expects to complete the construction of the vaccine plant in the second quarter of this year. In Nuevo León, Unilever plans to begin construction of a US$400 million grassroot beauty and personal care products plant in the second quarter of this year as well.

In Queretaro, Abbott is investing US$150 million in a new catheter plant currently under construction with completion by mid-2025.

Mexico City stands out with Organon's investment of more than US$48 million, to be implemented in Xochimilco as part of an expansion that the North American company plans to implement in the second quarter of 2024.

In addition, Harmac Medical in Baja California del Norte is investing US$50 million for a new contract development and manufacturing organization (CDMO) plant for single-use medical devices, with a completion date in second-quarter 2024. Finally, Productos Científicos, of Carnot Laboratorios, is expected to complete a new solid pharmaceutical forms plant in Villa de Tezontepec, in Hidalgo, with an investment of more than US$100 million.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).