Colombia

Ascend SAS, Colombia.

The overall Colombian pharmaceutical market, valued at USD 5 billion in 2022, is the 4th largest market in Latin America.

Bogota, the capital city, is the hub of healthcare decision-makers and the headquarters of INVIMA, the regulatory authority in Colombia. INVIMA is one of the top agencies in Latin America with the highest rank awarded by the Pan American Healthcare Organization.

60% of the total pharmaceutical sales are through the institution business and 40% are through retail sales.

In June 2019, we established Ascend SAS, a subsidiary in Bogota. With 15 molecules registered, the subsidiary is rapidly growing with the primary focus on institutional business. Additionally, Ascend is building a strong pipeline with over 16 molecules in various stages of registration.