Sic fines Lafrancol for illegal high prices of medicines

The Superintendence of Industry and Commerce (SIC), as National Authority for Legal Metrology and Technical Regulations, sanctioned LABORATORIO FRANCO COLOMBIANO (LAFRANCOL) with a fine of $1,253,000,000 COP (USD $313.000), after verifying that they illegally exceeded the government set price of some drugs or medicines that are marketed in the country, a breach to the provisions of Circular 04 of 2012 and 04 of 2018 of the National Commission of Medicines Prices and Medical Devices. 

The sanction was imposed when it was verified that the company LAFRANCOL, as a producer, importer, and marketer of the aforementioned drugs, sold them with an increased price higher than the stablish by the law. Also, it was found that LAFRANCOL marketed medicines that were purchased using public resources, and were sold at a price that exceeds over 403.05% of the maximum government mandated.