EMISIÓN DE OBLIGACIONES Y TITULARIZACIÓN COMO MECANISMO DE FINANCIAMIENTO PARA EL SECTOR FARMACEUTICO EN EL ECUADOR

Abstract

For several years the pharmaceutical market is growing continuously, actually with the implementation of new government politics that directly or indirectly regulate the area of health and in particular to the distribution of pharmaceuticals products, to arise situations of uncertainties to which firms in this industry face. Are both scenarios, factors that have led to these companies by currents provided growth, expansion, restructuring, and now currents full of caution, risk minimization, or at least to carefully expansions and investments. In this case, financial decisions are the most important after choosing the strategy that will help them navigate these currents. Given these realities, this segment of large volumes and low net margins, directs it’s funding at the lowest cost, where a percentage point can make a big difference. Thus, the market is an effective financing option in these circumstances, it offers among other options issue bonds and securitization, which as will be observed have been in continuous use among these companies, so which then develop the arguments necessary for proper choice.