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Peru: Five drug store chains caught in price-fixing scheme

 |  November 1, 2016

Peruvian economic watchdog INDECOPI has issued fines on five major drug store chains, having determined their involvement in a price-fixing scheme affecting 36 major medications, violating competition legislation and adversely affecting consumers.

Charges were presented against the Arcangel (Albis SA), Fasa (Farmacias Peruanas SA), Inkafarma (Eckerd Perú SA), Mifarma (Mifarma SA) and Felicidad (Nortfarma SAC) drug store chains, with fines totalling approximately $2,641,992 USD for their involvement in actions classed as ‘anticompetitive’ by Peru’s antitrust legislation.

As well as the economic sanctions mentioned, INDECOPI’s Commission for the Defense of Free Competition (CLC) has ordered the companies to design and implement a three-year program to avoid any relapse into uncompetitive behavior, including special training for sales personnel.

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