Pharmaceutical companies warn Brazil's drug price index may lower revenue: report

According to a report published in Bloomberg on Monday, Brazil’s government has for the first time in nine years delayed publishing the calculation it uses to set changes in drug pricing. Nelson Mussolini, president of Sao Paulo's pharmaceutical industry association, Sindusfarma, whose members include local subsidiaries for GlaxoSmithKline and Bristol-Myers Squibb, suggested "the government may try to raise prices artificially" in a way that could disadvantage the drug industry.

He noted that Brazil did not publish the formula used in September as it normally does, hindering companies from setting up their strategies for 2014. Drugs affected by the government calculation in 2013 represented 0.16 percentage point of the annual inflation rate, according to Bloomberg.

The Finance Ministry’s press office declined to comment regarding this year's formula for drug prices.

To read more Top Story articles, click here.