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EF: What attracted you to the sector, and what was your mission when you were appointed to this new position?
LR: I have been involved with various pharmaceutical companies since my time at the American Chamber of Commerce. In 2008, I embarked on a project with an American pharmaceutical association in Mexico, which marked my first real dive into the industry. From then on, I maintained indirect involvement through a pharmaceutical project with AMIIF, where I collaborated with country managers in Mexico. Later, as an executive search consultant partner, I specialized in the life sciences sector, conducting interviews and facilitating placements within the field.
What truly drives me in this sector is the chance to impact lives positively. To achieve this, it is crucial for the private sector in Mexico to collaborate closely with the government, particularly in prioritizing health in new legislation. Unfortunately, on the public level, health was not given the attention it deserved, and it affected patients the most. My motivation stems from bridging this gap and advocating for the government to prioritize health more effectively. I aim to bring attention to regulatory bodies regarding the challenges they face due to budget constraints, which have hindered the progress of innovation in this country. Ultimately, I strive to make a difference for patients and all those we serve.
EF: Could you provide us with an outlook on the nearshoring and healthcare investment opportunities for Mexico?
LR: Mexico holds significant trade opportunities, particularly with the US, with trade between the two countries currently valued at USD 799 billion, a substantial increase from USD 300 billion in previous years. This growth trend will likely continue, presenting promising prospects for Mexico's economy. With the implementation of the USMCA trade agreement, the pharmaceutical industry in Mexico stands to benefit even more. Since most companies work closely with the FDA, Mexico's proximity to the US and its strong commercial ties make collaboration with the US government the straightforward choice. We recognize that the US significantly influences Mexico, so we want to leverage every advantage to ensure efficient patient access. Nonetheless, European and Asian markets are also important. Therefore, at AMIIF, we aim to work closely with all relevant governments.
Mexico offers many business advantages: a growing market, a large consumer base, and a highly productive and efficient workforce. However, Mexico faces health challenges, notably obesity and diabetes. Addressing these issues requires government and private sector collaboration to ensure the population's well-being. In Mexico, good health is essential for prosperity and success.
EF: How is AMIIF working to bring innovation and R&D? How can we build a cycle for innovation in Mexico, and how can we attract investment for this endeavor?
LR: Recently, we had a lengthy meeting at the UNAM, Mexico's largest public university. We discussed the significant opportunities Mexico has, particularly in clinical trials. These trials can potentially inject approximately $3.5 to $4 billion into the country's economy, thereby generating numerous job opportunities—a critical investment for our economic growth.
At UNAM, we are working with academics to ensure aspiring professionals understand the importance of these opportunities. We are eager and fully committed to making an impact in this field happen. However, for these clinical trials to proceed, we need approval from policymakers and regulators and to remove any obstacles to attract investment to Mexico. Otherwise, companies will look elsewhere. Mexico has a golden opportunity to capitalize on and enhance its research environment.
EF: What is your proposal for improving the public dialogue to increase agility and transparency and foster a unified front to drive innovation in Mexico?
LR: Our top priority is ensuring a broad understanding of healthcare complexities, even beyond the sector. Any new administration must recognize healthcare as a key government ally. We advocate for intellectual property protection to support Mexico’s industry growth.
The Mexican government must grasp the significant investments the US makes in importing goods from Mexico. Below the Latin American average, Mexico invests about 6% of its GDP in health care, which is not sufficient to address healthcare issues effectively. Especially since only 2.75% is put into public health, the remaining 3.25% is destined for the private sector. In comparison, our USMCA partners, the US and Canada, allocate around 15% and 12% of GDP, respectively, to healthcare.
There is an urgent need for Mexico to increase healthcare investment to prevent escalating issues and improve overall health outcomes. By aligning with USMCA goals, Mexico can aim for healthcare investment closer to 10% of GDP, which is crucial for nationwide healthcare enhancement.
EF: What are the fundamentals of building a cost-effective healthcare system to enhance access in Mexico?
LR: Ensuring access to medicine remains a top priority. This entails regulators improving efficiency and collaborating with healthcare organizations globally, including those in Europe and the US. Embracing reliance programs, where drugs recognized by international regulators streamline processes, is essential.
By fully adopting reliance programs, the Mexican government can ease regulatory burdens and accelerate medicine delivery to patients. This not only speeds up the process but also reduces the risk of delays and administrative complications. Communicating the significance of linkage and reliance on the incoming government is crucial, emphasizing them as key priorities for the future.
EF: What main points would you focus on when discussing the development of a global health agenda and restoring trust in healthcare systems?
LR: Building trust is crucial, especially in pharmaceutical companies focused on innovation. These companies prioritize delivering high-quality medicines to patients, which involves thorough processes such as clinical trials. Developing innovative molecules requires significant investment and time, as seen with the COVID vaccine. During the pandemic, governments had to trust pharmaceutical companies, and this trust led to quick vaccine development. This demonstrates the power of trust in achieving remarkable results. With continued trust, new developments in areas like cancer treatment become possible, making a significant difference in healthcare. If governments are willing to trust the innovative healthcare sector, we can achieve breakthroughs that will positively impact society.
EF: What would be your advice to the next Mexican generation to attract them to the healthcare sector?
LR: In Mexico, there is a saying: "Without health, there is nothing." It underscores the fundamental importance of good health to economic prosperity and overall well-being. For those contemplating a healthcare career, it's crucial to recognize the significance of health as a cornerstone of society. With the healthcare sector in Mexico and across North America facing a pressing need for doctors, nurses, and care professionals, there are abundant opportunities for those eager to contribute their talents. Getting involved in healthcare presents a remarkable chance to forge a meaningful career path and leave a lasting impact on others.
EF: Stepping into your new position at AMIIF- What message would you like to send to our audience?
LR: As we look ahead to the new government in Mexico, there is opportunity in the air. Change is on the horizon, and as an association driven by innovation, we welcome it. We are committed to always providing the latest and best for patients and doctors. Working closely with the government, we will strive to align our objectives and focus on innovation. There is so much potential in Mexico, and our goal is simple: to improve the nation's health and quality of life. We are excited about the possibilities and eager to make a positive impact.
