Based on an exploratory discussion, the aim of this article is to investigate whether there is evidence of regressive specialization in the foreign trade pattern of the Brazilian pharmaceutical industry since trade liberalization in the 1990s. A descriptive statistical analysis drew on data for foreign trade in pharmaceutical and organic chemical products, available in the Aliceweb system of the Ministry of Development, Industry, and Foreign Trade, covering the periods 1989-1995 and 1996-2008. The results, especially concerning trends in Brazil's trade with developed countries, suggest evidence of regressive specialization.