Urgent Call for Investigation into Medicine Imports

Amidst concerns of acute shortages, steep and recurrent hikes in medicine prices over recent months, the Consumer Advocacy Platform (CAP) has urged the Competition Commission to launch a fresh investigation into the pharmaceutical sector, citing suspicions of orchestrated pricing strategies.

“It appears that importers are colluding to maintain higher prices to prove the inefficiency of the regressive mark-up and demonstrate that the regressive margin is not in consumers’ interest. Despite some price reductions, numerous highly demanded medications remain costlier,” Mosadeq Sahebdin, President of the Consumer Advocacy Platform was cited as saying.

He further referred to an official document from the Ministry of Consumer Protection, indicating a decrease of over 70% in freight costs in recent years.

“We also suspect that the submitted medication costs for price fixing to the ministry are subject to substantial overcharging at the source,” he alleged.

Sahebdin posited that some importers may be resorting to this practice, in defiance of pharmacists’ protests – who are guaranteed a profit margin – to offset presumed losses during closure periods and to align with consumer goods importers in maintaining high prices.

A formal plea was forwarded to the Competition Commission on Monday, August 21, by the President of the Consumer Advocacy Platform.

Source: Defi Media