00:00Newly elected council member of the Pharmacy Board of Trinidad and Tobago, Ricardo Mohamed,
00:05expressed the board's concerns about the prices of pharmaceuticals in Trinidad and Tobago.
00:09He also told the Morning Edition about the board's efforts to rectify and regulate prices in the sector.
00:15So one of the biggest concerns that we have is the continuous increase in prices of pharmaceuticals.
00:22We are currently monitoring what is happening from an economic standpoint.
00:28We are monitoring what is happening on our own local doorsteps.
00:32And we are trying to work with all these stakeholders to ensure that there is fair competition within the market.
00:40So we have been engaging with the Fair Trade Association.
00:45We have been engaging with the Ministry of Health, the Private Pharmacy Retail Business Association.
00:52And we are just trying to do our due diligence in really effecting positive change.
00:59Mr. Mohamed, who is the former president of the Pharmacy Board, indicated that pharmacies have an average standard markup of
01:0620% to 35%,
01:08with 35% being the maximum allowable limit for dispensaries.
01:12He admits that at the end of the day, pharmacists must run their pharmacies as a business,
01:17since they are not paid for their intellect, meaning they must turn a profit to survive.
01:22So it's a business at the end of the day, like everyone else.
01:26We have to turn a profit in order to pay ourselves for the job that we do.
01:31And so it's not like we charge when somebody comes in and asks for a recommendation for a co-op
01:36startup.
01:36The former president laments that the current situation is not an easy one for pharmacists to navigate,
01:41and it is one that they may be forced into sometimes.
01:45It's a difficult situation because currently right now, due to processes at customs,
01:51as you would see within the meeting, that we don't have a proper established list for customs to look through.
01:56We have situations where these small importers, they have their goods held,
02:01they have to pay damage until things are sorted out.
02:04So there's a lot of bureaucracy, a lot of red tape.
02:06And these things drive the cost up.
02:09So if they hold back your goods, let's say for about a month,
02:13you can imagine the cost that has to be added on now.
02:16He also took the opportunity to remind businesses that have applied for an OTC license
02:21that only certain drugs on a particular list can be sold with that license.
02:25He is warning businesses that the board and drug inspectorate are cracking down on the misuse of these licenses,
02:31with serious consequences to be had if businesses are found guilty.
02:36There are many businesses such as shops and supermarkets who access an OTC license.
02:43And an OTC license is very specific to a group of drugs that we call the second scheduled drugs.
02:49So they're more like over-the-counter type drugs.
02:53But we see from time to time, and we have been investigating,
02:57supermarkets selling stuff like Advil, colon, sinus, Panadol, multi-symptom, drowsy.
03:02These things, they are not allowed to sell.
03:06We have been liaising with the drug inspectorate frequently.
03:10And now we are going after all these errant places who are selling things that they're not supposed to be
03:17selling.
03:17And mind you, there are criminal charges and fines associated with this.
03:21So I'm pleading to the OTC substance supermarket,
03:25be very careful on what you sell with your OTC license,
03:28because we are coming out there to inspect,
03:32and we will report you to the drug inspectorate,
03:35who will in turn take the food necessary action.
03:39Mohamed said the board is working hard and doing their due diligence
03:42to assist the public with a better health care system.
03:45Dominic Romroop, TV6 News.
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