Nicaragua has solidified its commitment to international pharmaceutical standards by becoming the first Spanish-speaking nation to officially recognize the Indian Pharmacopoeia (IP).

This milestone comes following the signing of a Memorandum of Understanding (MoU) on Pharmacopoeia Cooperation between the governments of India and Nicaragua.

The ceremony, held in Nicaragua's capital, witnessed the formalization of the agreement by Dr. Sumit Seth, the Indian Ambassador to Nicaragua, and Dr. Martha Reyes, Nicaragua's Minister of Health.

• The MoU reflects a shared dedication to collaboration in the regulation of medicines, marking a pivotal step towards the international harmonization of pharmaceutical standards.
• This development is anticipated to strengthen the bond between India and Nicaragua, fostering exchange and cooperation in healthcare, and facilitating the sharing of expertise and resources to enhance medical standards.
• The pharmaceuticals market in Nicaragua is projected to grow by 3.86% (2024-2028) resulting in a market volume of US$ 155.10 million in 2028.