FRIDAY, NOVEMBER 11, 2016
business@tribunemedia.net
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Wholesalers in âdrug shortageâ warning to PHA By NEIL HARTNELL Tribune Business Editors nhartnell@tribunemedia.net Top Bahamian pharmaceutical distributors have warned the Public Hospitals Authority (PHA) that the âextraordinarily unrealisticâ order volumes in its latest procurement tender will likely create âdrug shortagesâ. The trio of Loweâs Wholesale, Nassau Agencies and Commonwealth Drugs (CDM Group) said the minimum guarantees provided by the Government âseem impracticalâ, and might result in their manufacturer partners having difficulty in meeting the PHAâs needs on short notice. The October 25, 2016, letter addressed to PHA managing director, Herbert Brown, suggested that the
Authorityâs orders âextraordinarily unrealisticâ Tough for manufacturers to react on short notice Sector seeks better usage data access for forecasting
At least one Bahamian investor groupâs ambitions were dashed last night after the Water & Sewerage Corporationâs chairman confirmed it had agreed a 15-year extension for BISXlisted Consolidated Water to operate the Windsor reverse osmosis plant. Leslie Miller told Tribune Business that the deal was âin the best interests of the Bahamian peopleâ, as the cost savings provided by the long-term deal could be up to $4 million per year. His revelations, though, are likely to dismay former Water & Sewerage Corporation chairman, Don Demeritte, and his EPS Consultantsâ consortium, who yesterday said they remained âready, willing and ableâ to take over Windsorâs management. See pg b5
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PHA presses on despite supplier âwipe outâ fear By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
âGo directâ a âslap in the faceâ for local drug firms
The Public Hospitals Authority (PHA) is pressing ahead with efforts to acquire pharmaceutical drugs direct from overseas manufacturers, despite fears it will âwipe outâ Bahamian wholesalers, cost taxpayers and âcompromise healthcare qualityâ. Dr Marvin Smith, the
Concern taxpayer will lose out, and no cost savings And healthcare quality âmay be compromisedâ
PHAâs supply chain management chief, made clear in a November 3, 2016, email that the Authority remains intent on excluding local wholesale distributors from its latest procurement exercise despite recent backlash. This was created when Dr Hubert Minnis, the FNM leader, published Dr Smithâs previous October 31 e-mail that first exposed the PHAâs desire to completely
cut Bahamian companies out of its plans to finish the tender. However, Tribune Business can reveal that concerns over the procurement practices of the PHA and its drug buying arm, the Bahamas National Drug Agency (BNDA), are much deeper - and go back further - than Dr Minnisâs e-mail allows for. And these concerns are See pg b5
Govt raises permanent residency mark to $1m
Bahamian wholesale industry instead by provided with data on each drugâs usage so they could better forecast annual volumes. The letter, detailing five concerns over the latest MPC 16 tender exercise, was sent before the PHA raised fresh concerns by deciding to âgo directâ to See pg b6
Water plant deal dashes Bahamian investor ambitions By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
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By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
Top realtor backs move as clientele, price boost
A top realtor yesterday Tax residency hailed as âa positive moveâ certificate also the Governmentâs decision to increase the permaapproved nent residency investment threshold to $1 million, But no economic saying this would help to citizenship; fees to redefine the type of clienincrease tele the Bahmaas attracts. Mario Carey, founder of Mario Carey Realty (MCR), was responding told a Higgs & Johnson after Hope Strachan, min- seminar that Cabinet had ister of financial services, given permission to double
Mario Carey
the threshold from its current $500,000. Mrs Strachan stated: âThis threshold is no longer achieving the intended objective, which is to attract high net worth individuals to our country and to support the real estate market in a tangible way, while maintaing the integrity and profile of the Bahamas as a premier financial centre.â Mr Carey said the move could be a positive for the Bahamas. âI think itâs a positive move, a good move, because I think See pg b4
Miller: 15-year Windsor deal with BISX-listed firm Touts savings of up to $4m Accepting rival bids would have âmade no senseâ
Leslie Miller
Sir Franklyn: Trump âbetter for Bahamasâ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A Donald Trump presidency will be âbetter for the Bahamasâ, a wellknown businessman said yesterday, given that he and the Republican Party will likely be less hostile towards international financial centres (IFCs). Sir Franklyn Wilson told See pg b4
Less hostile than Hillary to IFCs, financial services Tax policies to aid âtarget tourism, 2nd home marketâ Hopes globalisation âpull backâ to rein in OECD
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