Argentina’s Drugstores Put Limit on Sales

Argentines scrambled to find medical supplies Wednesday as pharmacies joined other businesses in restricting sales because of a soaring inflation rate, which erodes profits.

Chemists said drug prices had risen four times in the past month, including a 73% increase last week.

“That’s what drives pharmacists to keep their shops closed,” said drugstore owner Antonio Di Chello. “When you don’t know if prices will rise the next day, it’s only natural that you’d want to hold onto your stock.”

The government sent squads of inspectors out on the streets to check if pharmacists were hoarding drugs.

“My wife has a heart condition and takes a special drug. Three of the six chemists I visited had the drug but would not sell me any because they said they could not put a price on it,” said Roberto Aquino, 28.

Health and Social Welfare Minister Eduardo Bauza warned that he would use a Draconian “supply law” that allows the government to fine or close down businesses that refuse to sell their goods.

Pharmaceutical companies, drug wholesalers and pharmacists denied that they were to blame for the shortage of treatments for asthma, diabetes, epilepsy and heart conditions.

Many supermarkets and stores were shut this week even though the government unveiled economic measures to brake the surge of hyperinflation.

Business came to a virtual standstill as a banking and exchange-market holiday extended a hectic New Year’s weekend, during which time some consumer prices more than doubled.

The government announced that banks will reopen today.

President Carlos Menem brought monthly inflation down to 5.6% in October from nearly 200% in July, but the government says December’s inflation will top 60%.