Lebanon pharmacies accused of exploiting currency instability for profit

News Bulletin Reports
2023-03-05 | 12:34
High views
Share
LBCI
Share
LBCI
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
Lebanon pharmacies accused of exploiting currency instability for profit
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
2min
Lebanon pharmacies accused of exploiting currency instability for profit

Pharmacies in Lebanon are facing criticism for charging exorbitant prices for medicine, with some prices differing significantly from the Ministry of Health's regulated prices.

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.
 

Breaking Headlines

Lebanon News

News Bulletin Reports

Lebanon

Lebanese

Pharmacies

Exploitation

Currency

Instability

Profit

Drugs

Medicine

Medicines

Medication

LBCI Next
Forensic report on BDL submitted by A&M to Finance Minister sheds light on Forry controversy, suggests criminal implications
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use cookies to make
your experience on this
website better.
Accept
Learn More