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Medicine prices set to drop with Peru-US FTA

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LivingInPeru
Isabel Guerra

According to Ministry of Foreign Trade and Tourism (Mincetur), medicine prices in Peru are likely to drop thanks to the Free Trade Agreement (FTA) with the United States.

“There is no reason to say that medicine prices will rise because the FTA has entered into force, we are sure prices will drop due to lower import tariffs,” Peruvian Minister of Foreign Trade and Tourism, Mercedes Araoz said.

Peru’s Association of National Pharmaceutical Industries (Adifan) had said that the reform of Health General Law would imply that laboratories should pay 1,2 billion soles for studies made to certify that Peruvian medicines fulfill requirements of duration and quality in temperatures up to 30 degrees, which represents additional production costs.

Peruvian Minister denied this argument and said “They (Adifan) know that their problem is not related to fulfill bio-equivalences, but to compete against other products with better prices.”

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