Colombian congressman Hernando José Padaui has submitted a proposal before the House of Representatives, dubbed the ‘Anti-Ibuprofen Law’, which would force public medicine providers and insurance to provide only originally branded medication to patients, banning the use of generic alternatives. The proposal has been soundly critcized by Colombia’s pharmaceutical sector, with billions of dollars at stake.
Congressman Padaui has defended his proposal, claiming it seeks to boost competition and break up the monopolies of a few pharmaceuticals by promoting the development of new patent drugs and increasing both supply and demand, helping to offset foreseen rises to public spending as a result.
Cesar Burgos Alarcón, president of the Colombian Association of Scientific Societies, expressed his concern over the proposal’s principal mechanism, which would restrict doctors’ ability to prescribe generic alternatives to patients, justified by an assumed reduction in quality when compared to original formulas as the tradeoff for lower prices. “We believe that, beyond the economic impact that could be felt, the fundamental fact lies in the placement of constraints to the autonomy of medical practitioners to prescribe medication, as enshrined in the Legal Statutes, as an element which guarantees the basic right to healthcare.”
Full Content: Vanguardia
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI