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Mexico: Opposition calls for greater openness in medicine market

By  |  March 22, 2016
Mexico: Opposition calls for greater openness in medicine market

Ricardo Anaya, President of the opposition National Action Party, has called for the pharmaceutical sector in Mexico to be opened to greater competition in order to reduce the price of medication. He added that the party will propose two actions: the first, to strengthen the powers of the Federal Competition Commission (COFECE), and second, to pressure authorities to “tighten their grip” against abuses, hoping to stop the rising costs of healthcare and medication.

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    “Medicine prices are through the roof. For example: an antibiotic that cost 92 pesos three years ago now costs twice as much. Drugs for diabetes, cold medicines, painkillers and stomach aids have risen by more than 50%” he said.

    The PAN’s national leader pointed to Mexico’s high concentration in the medicine industry for the situation which, along with a lack of competition, allows pharmaceutical companies to raise prices, knowing they face few competitors for their products. “It’s been enough of having a few take advantage of the many. We’re not discovering anything new, this is something countries around the world have done. We demand cheaper medicines and greater competition.”

    Full content: Vanguardia

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