Jbara Says Panic-Buying Triggered Medicines Shortage

Head of Pharmaceuticals Importers Association, Karim Jbara, said on Wednesday that people started to panic buy medicine in anticipation of a shortage after the Central Banks’ decision to stop subsidies on main commodities including medicine, al-Joumhouria daily reported on Wednesday.

“People started to stockpile medicine at home when they learned that the central bank will stop subsidies on medicine,” Jbara told al-Joumhouria.

He said assuring that the general atmosphere in the central bank, the health ministry and the government confirms that subsidies on medicine will not be halted without an alternative plan to protect the citizens and the Lebanese health system.

With medicine shortage at most of Lebanon’s pharmacies, Jbara assured that the stock of medicines at warehouses can support the demand each month at a time.

The shortage is "a result of panic buying. The stockpile of drugs is available to cover people’s needs in normal times. But people have been stacking medicines (for two and three months instead of one) at home (fearing a shortfall)," Jbara told the daily."

In the next two months, the Central Bank is expected to end subsidies on basic goods. Since the local currency’s collapse, the bank has been using its depleting reserves to support imports of fuel, wheat and medicine.