National

Pharmacy Assoc. Pleased with Solution for Now

NASSAU, BAHAMAS – A constructive agreement reached between the Bahamas Pharmaceutical Association and the government over new profit margins on certain medications.

Published

1 year ago

November 4, 2022

Megan Shepherd

NASSAU, BAHAMAS – A constructive agreement reached between the Bahamas Pharmaceutical Association and the government over new profit margins on certain medications.

The details were shared Thursday at the Office of the Prime Minister.

President of the Bahamas Pharmaceutical Association, Shantia McBride said they are pleased to have come to a temporary solution with the government.

According to Clinical Pharmacist, Chargrega McPhee, the agreement also included a partnership to educate the public.

In the original amendment, the government provided a maximum wholesale percentage markup of between 15 percent and 18 percent. Minister of Economic Affairs, Michael Halkitis, explained the new margins.

Despite the new agreement, the government did not agree to remove value added tax from medication.