The Syndicate of Pharmaceutical Importers has supported a good decision to lift subsidies on medicines

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The Syndicate of Pharmaceutical Importers and Warehouse Owners in Lebanon clarified in a statement, “The false information about the Syndicate of Pharmaceutical Importers’ suspension of the decisions of the Minister of Public Health issued yesterday, especially the decision to lift subsidies for 1,500 medicines that are imported or manufactured locally with a license.”

The Syndicate considered, “In principle, that the decision issued by the minister comes in the right direction, especially after the Banque du Liban warned of its inability to continue subsidizing the same amounts that it had previously secured.”

She added: “The Ministry of Health has issued price regulations at the exchange rate of 12000 L.L to one dollar, while asking the importer to buy foreign currency from the black market, that is, at a price of 24,000 L.L at present, and therefore the importer will incur losses exceeding 50% of the selling price. So, how Can he provide the drug without exposing his institution to bankruptcy?

And she continued, “The ministry has set the importer’s profit margin at 6%, which does not cover the daily fluctuations of foreign currencies on the black market. How can it cover a 50% loss as is the case in the current situation?”

And she concluded: “The Syndicate puts itself at the disposal of the Minister of Public Health in order to find ways that lead to the successful implementation of the decision and the provision of medicine to the Lebanese market.”





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