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Pharmacy board warns again of an Agostini monopoly
Christian Mouttet -
THE PHARMACY Board has once again expressed concern over a possible monopoly in the pharmaceutical industry as Agostini Ltd has announced the completion of the acquisition of Oscar Francois Ltd and its associate company Intersol Ltd. The companies were acquired under Agostini s pharmaceutical subsidiary, Smith Robertson Co Ltd.
Pharmacy Board chairman Andrew Rahaman warned of a possible rise in prices if the company becomes a monopoly. He appealed to the TT Fair Trade Commission (TTFTC) to pay special attention to the latest merger before it has to deal with the issue of dismantling it.
Dr Keith Rowley
THE Prime Minister on Sunday said several countries are facing the challenge of what he called “vaccine apartheid” as they try to access covid19 vaccines for their populations during the pandemic.
Dr Rowley made this observation as he dismissed allegations from Oropouche West MP Dave Tancoo that the Government was using the covid19 pandemic to achieve political benefits for itself and was causing the population and the economy to suffer because of its failure to acquire covid19 vaccines.
At a news conference at the Opposition Leader’s Office in Port of Spain, Tancoo said, “To date, we cannot tell when the vaccines will arrive in TT. He said several other Caricom countries have already received covid19 vaccines and are starting to distribute them to their citizens to help reopen their economies.
Sunday 14 March 2021
A range of pharmaceutical products made in India on display at a seminar on the country s pharmaceutical industry hosted by the Indian High Commission at the Mahatma Gandhi Institute for Cultural Co-operation Mt Hope on Friday. -
The Pharmacy Board of TT has reached out to the TT Fair Trade Commission (TTFTC) to discuss pharmacists concerns about a possible monopoly in the industry with the ongoing merger of three leading pharmaceutical firms.
The board s president Andrew Rahaman disclosed this to Newsday on Saturday and said it is waiting on feedback from the commission.
Rahaman raised concerns this week about the Agostini Group s acquisition of two companies – Oscar Francois Ltd and Intersol Ltd – and the effects the deal would have on the industry was very concerning to the board.
Trade Ministry: No private distribution of covid19 vaccine
The AstraZeneca covid19 vaccine.
The Ministry of Trade and Industry (MTI) has distanced itself from the merger of the Agostini Group, Oscar Francois Ltd and Intersol Ltd and the notion that the covid19 vaccine would be distributed through this private entity.
In a media release it said the merger fell under the remit of the TT Fair Trade Commission (TTFTC), which also oversees the promotion competition, prevent anti-competitive practices such as price-fixing, market-sharing, collusion, cartels and bid-rigging.
It said, “The TTFTC has advised that the review and approval process associated with the particular merger within the local pharmaceutical industry took over four months.