Argentina medication prices up to four times higher than abroad

Hugo Magonza, president of the Unión Argentina de Salud (UAS) and director of CEMIC, has identified why medication prices in Argentina are up to four times higher than in other countries. Comparing local costs to Spain, Magonza noted that out-of-pocket pharmacy expenses for individuals are approximately 300% higher in Argentina.

Two primary drivers were cited: general price increases and the introduction of highly effective but more expensive treatments, such as biological and oncological drugs. Magonza reported that within the direct medical spending of prepaid healthcare members, the proportion dedicated to medication has risen from 15% to between 35% and 38%.

Since 2002, a significant gap has emerged between rising medical costs and stagnant incomes. Data indicates that medication prices have outpaced the Consumer Price Index (IPC) by 8.5% since that year. Specific examples of price discrepancies for chronic treatments include levothyroxine, which costs US$ 19.3 per month in Argentina compared to US$ 3.1 abroad, and metformin, costing US$ 26.1 locally versus US$ 5.3 internationally.