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Antitrust Body Looks Into Pharmacies
The Federal Anti-Monopoly Service has opened an investigation into alleged overpricing by pharmacies in 22 Russian regions, saying some drug store chains increased prices by more than the law allows in the first six months of the year.
Drug prices have been affected by the euro and dollar exchange rate as well as inflation, the service said in a statement Tuesday.
Seventy-five percent of pharmaceuticals sold in Russia are imported while the rest have imported ingredients, it said.
The service is monitoring consumer prices on the 100 most popular drugs sold by 960 major drug store chains.
It will be looking into price hikes on the part of importers and distributors, the statement said.
Last week Dmitry Medvedev said administrative resources would be used to regulate the pharmaceutical industry and called markups of over 50 percent “impudent profiteering.”