The Superintendency of Industry and Commerce (SIC) imposed a fine of approximately $1.38 million on a wholesale drug distributor after determining that it sold 47 medications, including treatments for chronic diseases, at prices above the maximum allowed.
In its investigation, the agency found price markups that, in some cases, exceeded 7,000% of the maximum price; one such drug was DEPO-MEDROL, used to treat arthritis. Excessive pricing was also identified in products for heart disease, epilepsy, diabetes, asthma, chronic obstructive pulmonary disease, urinary tract infections, and mental health disorders, as well as in medications used in surgical procedures.
This decision was made in accordance with the SIC’s powers of inspection, oversight, and enforcement regarding Colombia’s current price control regulations.
