Economic turmoil in Venezuela is plaguing the country’s pharmaceutical sector, leaving its medicine manufacturers struggling to meet market demand. Strict price controls and a shortage of foreign currency are contributing to empty shelves in pharmacies across the country, as manufacturers are dependent on imported inputs and lack the hard currency to pay for them.
‘It’s become increasingly difficult to complete our social duty,’ said Ángel Márquez, Executive Vice President of the Venezuelan Chamber of the Pharmaceutical Industry (CIFAR), which represents mainly Venezuelan-owned manufacturers. Although authorities have recently taken steps to address the industry’s troubles, drug makers are still struggling to fulfill the country’s needs.
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