Venezuela's Pharmaceutical Federation declares state of emergency

The Venezuelan Pharmaceutical Federation declared the sector's state of emergency upon statements on Saturday by the head of the National Superintendence of Fair Costs and Prices (Sundecop), Karlin Granadillo, who informed that penalties would be meted out to drug stores that failed to register in due time with the Automated System of Price Administration (Sisap).

"Inexplicably, the State itself is encouraging the destruction of the most sensitive sector in the drugs distribution chain while it allows those sectors in charge of their commercialization to get away with it. They are accountable for the indiscriminate increase in drug prices," a statement reads.     

Sundecop is harming the sector although it knows the sector does not rely on an adequate technological framework or the appropriate financial resources.

The federation urged Sundecop to ponder the possibility of an internal review before imposing sanctions on more than half of the independent pharmacies. 

Translated by Jhean Cabrera