The US-based group 3M has taken the decision to stop trading the products from its Health Care business in Argentina. This includes its hospital products, denstiry products care and Microbiology. It’s not yet been defined if the company will select a local representative.
The exodus of multinationals from Argentina continues. This time it’s the turn of 3M’s Health Care business, which the US group is planning to spin off internationally this year. The company, currently led by global CEO Mike Roman has taken the decision to stop trading a wide range of products in the country, including hospitable; dentistry and microbiology products. See international press release.
As far as Pharmabiz could learn, the decision was communicated today, Thursday, to distributors by local officials and an international delegation. It’s been suggested that two location companies may operate as representatives, but no definitive decision has been announced.
As a result, the continuity of the supply of products from the St. Paul, Minnesota-based multi is in doubt. That includes iconic brands such as the infection control line Comply, comprising mainly indicator tapes and labels used in sterilisation and monitoring. Other products include Littman stethoscopes; the Micropore line of transparent tapes; the sterilisation line Steri-Vac; Transpore adhesive tapes; Tegaderm transparent dressings, and Ioban and Steri Drape surgical incision products.
These have long been reference marks in the hospital sector, but have gradually lost weight due to their pricing, which is out of step with the economic challenges in Argentina, with a currency that is steadily losing value and increasing import barriers.
Argentine firms that could benefit include Kims, which is headquartered in Villa Martelli, Buenos Aires Province; Riasa, based in Ciudadela; and Terragene, a Santa Fe-based company that manufactures biological and chemical indicators for the control of sterilisation processes, cleaning, hygiene and thermal disinfection.
The move follows 3M’s 2020 decision to sell its drug delivery technologies unit. That involved the closure of several plants worldwide but kicked off in Argentina, where the multi lowered the shutters on its Hurlingham aerosol bronchodilators site in August 2019. See article in Spanish.
