Mexico competition watchdog opens probe into market for medicines

MEXICO CITY, Oct 19 (Reuters) - Mexico’s competition regulator Cofece said on Wednesday it had opened an investigation into possible “absolute monopolistic practices” in the country’s medicines market.

Cofece’s investigative unit will look at the production, distribution and sale of medicines, it said in the official government gazette. The investigation should last between 30 and 120 working days, but that could be extended, Cofece said.

Absolute monopolistic practices are collusive agreements between competitors meant to fix prices, divide up markets or rig bids, Cofece said on its website.

The statement did not identify what medicines and companies might come under the scope of the investigation.

No one was available to comment at Cofece before normal business hours.

Reporting by Christine Murray and Veronica Gomez Editing by W Simon