Pharmacist Syndicate boycotts purchasing medications at new prices

The Pharmacist Syndicate announced it will boycott purchasing medications from producers at the new prices until 10 February, Al Mal reported. The syndicate is demanding pharmacies be allowed to maintain a minimum of 23% profit margins on domestic medications and 15% on imported counterparts. It also calls for margins to be increased to 25% and 18% on domestic and foreign medications, respectively, within 3-6 months when meds are repriced, the syndicate said. As we noted yesterday, the syndicate plans to follow through with their strike on 12 February.