Main Culture And Technical Challenges Faced By Chinese Pharmaceutical Companies Entering The Latin American Market

The purpose of this work was to provide Chinese pharmaceutical companies with relevant information about the market in Latin America in terms of communication, culture features and technicalities that create a set of obstacles that need to be overcome with savvy strategic decisions.An extended research on journals and reports were analyzed, along with answers from some domestic companies in Mainland, in order to be updated in both China and the Americas. Key information on the field was extracted as well as culture traits that play an important role to conduct business abroad.In general, Chinese pharmaceutical companies, mainly small and medium-sized, face a strong competition domestically that leads to possibilities of market expansion, and Latin America seems to be a good spot to leverage. However, Chinese firms need to pay close attention to peculiarities and regulations since they are as varied as the number of countries conforming the Americas region. Moreover, they need to start implementing the necessary capabilities in terms of human resources and strategic partnerships to better access that territory.Several recommendations related to culture and regulations were made for those Chinese firms intending to enter that specific foreign market.