Spoiler alert: now raises the price of remedies by 5.3 percent on average
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Argentines are already used to the fact that announcements related to prices always end in increases. In this case, the agreement between the Government and the laboratories was finalized today. The new increase in remedies would be 5.3%.

The agreement states that drugs may increase one point less than inflation, which in October was 6.3%. The CPI has already exhibited a cumulative rise of 76.6% in 2022. The new agreement is almost closed and would be in effect for November and December, sources in the sector indicated.

This agreement has been renewed since its implementation last July. Until the latest details are finalized, the Ministry of Health asked the laboratories to keep the price lists until a meeting that would take place between Monday and Wednesday.

The agreement covers all products sold through pharmacies, including over-the-counter ones.

As Noticas Argentinas was able to find out with different chambers and federations that include pharmacies, laboratories and medicinal specialties, they received an email from the Undersecretary of Medicines and Strategic Information of the Ministry of Health, an area that indicated that they will be summoned next week on the day and time to confirm, to meet together with the Secretary of Commerce and advance in a joint work table.

As the agreement has already expired, they request in the same letter that they kindly maintain the pricing policy until the working group takes place and the steps to follow are resolved.

Regarding the last three months, if inflation is observed at a general level compared to the index of the section of Medicinal products, devices and equipment for healththe comparisons show some compliance with the agreement being that so far this year, costs have accumulated a 72% increase versus a general rate of 76.6%.

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If the last 12 months are analyzed, inflation for the medicinal health products category amounts to 75.6%, versus a general rate of 88%.

In this way, the agreement would have been fulfilled in October. But it is also worth noting that the two previous months “over-complied” by rising 3.3 points and 1.6 points less than inflation.

When looking at the accumulated figures for the year and year-on-year, they are also below inflation.

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