With lower returns from price pressures in developed markets, it is imperative for pharma companies to seek growth in emerging markets such as Latin America. Simultaneously, with rising incomes, a growing middle class in emerging markets is increasing demand for access to innovative medicine, especially in diseases such as oncology, CV and diabetes. Achieving commercial expansion as well as increasing access to innovative medicine in Latin America needs new pricing strategies and funding models. We discuss and evaluate alternative pricing strategies and funding models to support commercial expansion and increase access to innovative medicines in Latin American markets such as Brazil, Argentina, Mexico and Colombia. These include current industry strategies, equitable pricing strategies and strategies focused on local market conditions. We model the impact of these strategies on both specialty and primary care medicines. The modelling is based on insights and assumptions drawn from analogue analysis in pharmaceuticals and other industries. It is supplemented by interviews with industry experts in Latin American market strategies. For the modelling we assume current market and public and private insurance coverage structures. We find that in primary care medicines there is considerable opportunity for commercial and access gain through more differentiated pricing strategies. These strategies are more commercially (revenue and profit) optimal than current industry strategy. At the same time, they are also access optimal in terms of the eligible patients they provide access to. In the case of specialty medicines, differential pricing strategies can increase commercial potential, but there is a gap between commercially optimal and access optimal strategies. This gap can be bridged through increased financing for these medicines. Based on this analysis, we suggest a path forward in which pharmaceutical companies can collaborate with governments and other stakeholders to achieve increased access to innovative medicines in a commercially sustainable manner.