Brazilian Retailers "UBS Shopping Cart: Pharmaceutical sales; RIAA..."

Research evidence excerpt

Brazilian Retailers "UBS Shopping Cart: Pharmaceutical sales; RIAA..."

Global Research

3 July 2026ab

Brazilian Retailers Equities

AmericasUBS Shopping Cart: Pharmaceutical sales; RIAA

discontinues Fanlab Consumer, Cyclical

Vinicius Strano, CFA

Analyst

vinicius.strano@ubs.com

Brazil pharmaceutical market grows 10.3% in June +55-11-2767 6688

According to IQVIA data, Brazil's pharmaceutical market is projected to reach R Isabella Lamas

$23.6bn in sales in June (+10.3% YoY), while volumes are expected to increase 3.0% Analyst

YoY to 745.7m units. The stronger growth in revenue relative to volume reflects a isabella.lamas@ubs.com

more favorable product mix, a higher share of value-added therapies, and price +55-11-2767 6836

adjustments. In the retail pharmacy segment, sales are expected to reach R$13.9bn Lucca Biasi

(+11.2% YoY), while volumes are projected to grow 2.7% YoY (-0.4% MoM). Within the Associate Analyst

segment, generics are expected to lead growth, with volumes increasing +4.4% YoY, lucca.biasi@ubs.com

ahead of reference drugs (+4.2%) and branded drugs (+0.7%). In terms of revenue, +55-11-2767 6173

however, branded drugs are expected to remain the largest category, generating R Pedro Perone

$6.8bn in sales, followed by reference drugs (R$4.9bn) and generics (R$2.2bn). Associate Analyst

Among therapeutic classes, digestive system and metabolism drugs are expected to pedro.perone@ubs.com

remain the key growth driver. +55-11-2767 6007

Riachuelo discontinues Fanlab operations

According to Mercado & Consumo, Riachuelo will discontinue Fanlab, its geek and

pop culture brand, as part of an initiative to streamline operations and reallocate

investments to other business fronts. The brand's standalone stores will be closed