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.
“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
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Subscribers Defend $4.7 Billion Antitrust Verdict Against NFL in Court Filings
Jul 19, 2024 by
CPI
Von der Leyen Calls for Competition Policy to Boost EU Companies’ Growth
Jul 19, 2024 by
CPI
Vermont AG Sues Pharmacy Benefit Managers Over Drug Prices
Jul 18, 2024 by
CPI
Australians Face Increased Stamp Prices Following ACCC Approval
Jul 18, 2024 by
CPI
Live Nation Seeks Dismissal of DOJ Antitrust Allegations
Jul 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Private Equity Roll-Up Schemes
Jun 28, 2024 by
CPI
The FTC’s Focus on Private Equity is Warranted
Jun 28, 2024 by
CPI
Unraveling the Roll-Up: Private Equity’s Misunderstood Investment Strategy
Jun 28, 2024 by
CPI
Antitrust Focus on Private Equity Funds and Serial Acquisitions
Jun 28, 2024 by
CPI
Private Equity Roll-Ups Amidst Heightened Antitrust Enforcement
Jun 28, 2024 by
CPI