(Bloomberg) -- Colombia will seek to cut prices of some high-cost medicines to rein in health care spending, Health Minister Guillermo Alfonso Jaramillo said.
“We are going to intervene in accordance with the constitution and the law,” Jaramillo told lawmakers in a debate. “We are going to intervene in these deformed and oligopolistic markets.”
The announcement comes as President Gustavo Petro tries to reform the health system with a bill that boosts the role of the state.
Jaramillo said the government wants to move expensive drugs to the so-called basic health care plan. This would limit drugmakers’ ability to charge high prices.
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