On March 2nd members of the Pacific Alliance signed the Inter-institutional Cooperation Agreement between Health Authorities to expedite the registration of medicines in Chile, Colombia and Mexico. During the meeting held in Medellín, Colombia, the health agencies agreed to create a permanent technical team to consolidate harmonization and regulatory convergence.

Through the agreement, the Mexican Federal Commission for the Protection against Sanitary Risks (COFEPRIS), Colombia’s National Institute of Food and Drug Surveillance (INVIMA) and Chile’s Institute of Public Health (ISP) will share information, strategies and good practices to advance in bioequivalence and regulatory convergence, making it possible to issue drug registers, strengthen regional integration, industry development and ensure the health of the population. The new permanent technical team will work specifically to finalize the harmonization in the region and optimize the granting of new sanitary licenses.

The representatives of the health agencies agreed that facilitating regulatory processes in the region will strengthen the pharmaceutical market and expand the population’s access to a wide range of medicines at a better price.

About the Pacific Alliance

The Pacific Alliance is constituted by Chile, Colombia, Mexico and Peru, which group a population of over 225 million people and account for 37% of the Gross Domestic Product (GDP), 52% of total trade, and 45% of direct foreign investment in Latin America and the Caribbean.