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Pharmacies reject ‘regressive mark-up’, warn of ‘disastrous consequences’

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Pharmacies reject 'regressive mark-up', warn of 'disastrous consequences'

Pharmacists have warned that the “regressive mark-up” being proposed by authorities to calculate importers’ and retailers’ profit margin will have “disastrous consequences.”

They contest the Competition Commission’s claim that the maximum 35% mark-up increases the retail price of drugs.

The CCM proposed to find “an alternative pricing mechanism to ensure affordability”.

In Mauritius, the profit margin on medicines is around 11% for wholesalers and 22% for retailers.

“This is the lowest in the region,” said spokesperson Siddick Khodabaccus. “After deducting marketing expenses, rentals, invoices, salaries, logistics, etc, they’re left with only 3 or 4%. How do you expect us to survive?”

One solution to lower prices of medicines, according to Khodabaccus, would be to liberalise the import of pharmaceutical products.

This would require, he told Defi Media, removing the “intellectual property rights” (IPR) on those considered as “life-saving products” or “critical care products” – which include those use for the treatment of hypertension and diabetes.

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The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.