The Authority for Consumer Protection and Defense of Competition (Acodeco) has recommended to the Executive Body the establishment of a maximum retail price for a group of medications as a temporary measure for a period of 6 months. The purpose of this measure is to safeguard the superior interest of the consumer.
Based on an analysis of the behavior of medications, the exceptional regulation of the retail price of 119 medications has been decreed, which must comply with the maximum price established in the official list. Acodeco will be responsible for enforcing and strictly supervising compliance with this decree, as well as imposing sanctions on economic agents who fail to comply with these provisions, as stipulated in Law 45 of 2007.
Among the 119 medicinal products for which price ceilings are established are various types of commonly used medications. By virtue of this measure, it seeks to temporarily regulate the medication market to ensure that consumers can access these products at fair and reasonable prices during the established period.
In Acodeco's words: "It is important to ensure that medication prices remain within accessible limits for the population, and with this action, we seek to protect the rights and well-being of Panamanian consumers."
This initiative is part of efforts to promote competition and protect consumers in the market by establishing mechanisms to prevent abusive practices and ensure the availability of medications at affordable prices for the population.
