Major pharmaceutical companies in Mexico 2023, by net sales

In 2023, Bayer México was the pharmaceutical company with the highest net sales value in Mexico, reaching around 37 billion Mexican pesos. Sanofi México ranked second, with sales amounting to 16 billion Mexican pesos that year. Boehringer Ingelheim México followed, with around 15 billion Mexican pesos. 

Mexico’s pharmaceutical industry

With 138 pharmaceutical manufacturing establishments operating in the country, Mexico is the nation with the second largest pharmaceutical industry in Latin America, after Brazil. In 2021, the value of Mexico's pharmaceutical market reached over eight billion U.S. dollars, compared to the 23 billion U.S. dollars for the Brazilian market. The pharma sector in Mexico relies mostly on imports. 

Health and pharma spending

Healthcare spending in Mexico, including governmental and out-of-pocket expenditure, amounted to 1,181 U.S. dollars per person in 2022, a lower value compared to Costa Rica, Chile, and Colombia. Meanwhile, revenue of the OTC pharmaceutical market in the North American country amounted to 1.7 billion U.S. dollars that year.