Drug Executives Arrested In Venezuela

Warrants for the arrest of pharmaceutical industry executives have been issued in Venezuela as part of criminal investigations into alleged drug overpricing.

Judge Cristobal Ramiraz of the Caracas criminal court has issued 16 arrest warrants so far, and says his investigations will spread further. Most of the executives named in the warrants have voluntarily presented themselves to the judge, and are currently out on bail. Among those arrested is Raul Mejuto, pharmaceutical director for Ciba-Geigy in Venezuela, and also president of the Venezuelan multinational pharmaceutical industry association CAVEME.

Also among those arrested are executives working for a number of multinational pharmaceutical companies in Venezuela, including Eli Lilly, Merck, Sharp & Dohme, Servier, Sandoz, Hoffmann-La Roche, Bayer and Rhone-Poulenc. There are 36 overseas-owned drug firms in the country. Additionally implicated are executives from some of Venezuela's national pharmaceutical companies, including Leti, Farma, Klinos, Biotech, and Spefar.