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Armenian Pharmaceutical Companies Will Appeal The Decision Of The Pe

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  • Armenian Pharmaceutical Companies Will Appeal The Decision Of The Pe

    ARMENIAN PHARMACEUTICAL COMPANIES WILL APPEAL THE DECISION OF THE PENALTY OF ANTI-MONOPOLY COMMITTEE

    ARKA
    DECEMBER 25, 2009
    YEREVAN

    YEREVAN, December 25. /ARKA/. Armenian pharmaceutical companies
    are going to appeal the decision of State Committee on Protection of
    anti-competitive agreement and increase of prices. In the result of the
    decision 7 companies will pay 460 million drams to the state budget.

    Administrative case of the Committee resulted in many publications in
    mass media and complaints of the citizens on abrupt increase of prices
    for medicine in the period of September-November 2009. Violations
    of the law in the market of cardio-vascular, anti-diabetes and
    anti-virus medicaments was detected in eight companies - "Natali
    pharm", "Eskulap", "Alfa pharm", "Vaga pharm", "Argo pharm", "Amikus"
    and "Arpharmatsia".

    The above-mentioned companies were penalized in the amount of 2%
    from the income of the companies of the last year, not more than
    300 million drams. Vahe Varsanyan, Founding Director of "Vaga pharm"
    said that the Committee didn't submit any facts proving the presence
    of anti-competitive agreement and basis for the increase of prices
    as there were no agreements between the companies in the market.

    "Such an approach of the Committee is intended which was targeted at
    the broad auditorium for the support of state structures which will
    bring to "state killing" of the companies which occupy less than 0.2%
    of the market", he said. In fact increase of prices for medicine
    in the Armenian market was conditioned by the increase of prices by
    wholesale companies which reflected on the final price of medicine
    through relevant indexation.

    After abrupt variations of currency rates in the Armenian market in
    March 2009 some companies decreased prices of some medicine, in the
    result of which other participants of the market had to sell medicine
    by cost price. Varsanyan said that from September the situation was
    somehow changed and prices for some kinds of medicine were increased
    by 10-15%. One of the factors influencing on the changes of prices
    was the increase of prices of producers and wholesale importers which
    resulted in the final cost of the product. "The Committee made a show
    and played with our reputation and we are going to appeal this decision
    in the court. We hope that this issue will be solved amicably. ($1 -
    376.92 drams). G.K.
    From: Baghdasarian
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