Monday, June 18, 2012

Is Cyprus a cartel?

Last month, according to a report by, Minister of Health Stavros Malas said he is investigating the cartel-like implications of high prices of pharmaceuticals like Panadol which in some cases are over 300 percent higher than other EU countries.

Panadol is being sold in Cyprus for 3.42 euros, compared to 0.65 euros in Greece, while Buscopan is priced at 4.24 euros compared to 1.09 euros in Greece. Prostate cancer medicine Oliclinomel sells for 217.03 euros in Cyprus - and 32.31 euros in Greece.

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