The pharmaceutical industry in the Dominican Republic shrunk over the last two years as a result of the devaluation of the peso against the US dollar, the exchange commission and the price of fuels, according to Luis Adolfo Betances, a member of the association that joins manufacturers, salespersons and factory representatives (ARAPF). The businessman, who took part in the Corripio Group luncheon, said that even though over the last seven months the dollar has gone down in price, providing a 35% decrease in price for many medicines, the increase in the exchange commission to 13% and other rising manufacturing costs have hurt the sector. As an example he cited the increased costs of the sales force that received higher salaries and more expense money due to higher fuel prices. Some foreign labs are changing their marketing strategies. There was some good news, however. Fernando Ferreira, the ARAPF vice-president, said that the first quarter of 2005 was 17% better than the same period in 2004.