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
FTC Pushes Review of CoStar’s Commercial Real Estate Antitrust Case
Jan 31, 2024 by
CPI
UK’s CMA Investigates Ardonagh’s Atlanta Group and Markerstudy Merger
Jan 31, 2024 by
CPI
Greenberg Traurig Grow Financial Regulatory and Compliance Practice
Jan 31, 2024 by
CPI
Dutch Regulator Fines Uber €10 Million for Privacy Violations
Jan 31, 2024 by
CPI
DOJ Investigates AI Competition, Eyes Microsoft’s OpenAI Deal: Bloomberg
Jan 31, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – The Rule(s) of Reason
Jan 29, 2024 by
CPI
Evolving the Rule of Reason for Legacy Business Conduct
Jan 29, 2024 by
CPI
The Object Identity
Jan 29, 2024 by
CPI
In Praise of Rules-Based Antitrust
Jan 29, 2024 by
CPI
The Future of State AG Antitrust Enforcement and Federal-State Cooperation
Jan 29, 2024 by
CPI