A December 21 session of the Armenia’s State Commission for the Protection of Economic Competition came to the conclusion that certain drug importers had colluded to raise the price various medicines sold in Armenia during the months of September and October. At a press conference held today, Vahe Barsamyan, founder of the company “Baghdasar” denied that any such price fixing had taken place. He said that the government commission was engaging in populist politics since there was no legal basis on which to make such accusations. “It was pure show designed to be broadcast over the airwaves in an attempt to prove to the public that this government body, whose aim is to protect a equal economic playing field, is indded hard at work defending the rights of the public,” argued Mr. Barsamyan. He stated that due to the outbreak of swine flu and the appreciation of the U.S Dollar and Euro, starting in September, drug prices begin to rise once again after dropping in the summer. Mr. Barsamyan noted that the way the market works is if one distributor raises prices, the others follow suit. Mr. Barsamyan justified the 15% increase on certain drugs by saying that even though the price per unit had gone up by only 2% the extra 10% or more was needed to cover the costs incurred by the drug importers. The increase, he claimed, was the minimum needed to remain viable. The industry representative said that the drug importers were preparing to file a petition with the Economic Commission to review it judgement or to take the matter to the courts.