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Mexico to investigate ‘monopolistic’ pricing of medicines

by sanmigueltimes
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MEXICO CITY — Mexico’s competition regulator Cofece said on Wednesday Oct. 19 it had opened an investigation into possible “absolute monopolistic practices” in the country’s medicines market, Reuters reported.

Cofece’s investigative unit will look at the production, distribution and sale of medicines, it said in the official government gazette. The investigation should last between 30 and 120 working days, but that could be extended, Cofece said.

Absolute monopolistic practices are collusive agreements between competitors meant to fix prices, divide up markets or rig bids, Cofece said on its website.

A Mexican pharmacy. (PHOTO: Cronkite News - Arizona PBS)

A Mexican pharmacy. (PHOTO: Cronkite News – Arizona PBS)

The statement did not identify what medicines and companies might come under the scope of the investigation.

No one was available to comment at Cofece before normal business hours.

Source: reuters.com

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