Colombia’s pharmaceutical industry is big business, and
Procaps, a pioneering soft gelatine capsule manufacturer, is one of the biggest exporters, accounting for approximately one-third of the country’s US$350 million worth of exports.
The free trade agreement with the U.S. has facilitated product entry into the United States and the recent Food and Drug Administration’s approval of its progesterone capsule plant in Barranquilla has truly opened the door wide for Procaps in North America’s US$250 billion pharmaceutical market.
The approval, which management considers one of its most important triumphs in the company’s history, came after several years of investment, research and waiting – a long process that is considered worthwhile, given the fact that Colombia’s pharmaceutical market is worth just US$6-7 billion.
Established in 1977 in Barranquilla, Procaps ranks among the top five globally for gelatine capsules and exports to more than 35 countries worldwide, while constantly innovating and differentiating its dozens of lines of pharmaceutical products, thanks to a 250-person strong team dedicated solely to R&D.
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