Lebanon pharmacies accused of exploiting currency instability for profit

Despite a daily updated index for non-subsidized drugs to simulate fluctuations in the exchange rate, pharmacies have failed to agree on uniform prices for medications.

The volatile exchange rate and price exploitation have not only affected luxury items and food but have also reached medication, as exemplified by the pricing of Bisoprolol 5 mg Normon, which costs 215,000 LBP on the medleb platform, where the Health Ministry regulates drug prices. In contrast, the same drug costs three times more in some pharmacies. Similarly, the price difference for Augmentin 1gr between pharmacies can exceed 300,000 LBP.

In this context, the head of the Pharmacists Syndicate, Joe Salloum, pointed out that pricing differences may be due to accidental errors, but these errors could cost citizens their salaries.

However, sources in Pharmacists Syndicate explained that the problem lies in the lack of oversight caused by the fuel crisis, which prevents pharmacy inspections in various areas. But more than one pharmacy has been held accountable for the pricing issue.

Consequently, LBCI learned that the Caretaker Health Minister, Firas Abiad, will launch a dedicated hotline to address price discrepancies. Furthermore, pharmacies that do not comply with the medleb platform, which allows citizens to view drug prices, may face consequences including but not limited to shutting the pharmacies with red wax seals.