Letter of the Day | A victory for Lasco is a victory for us!
THE EDITOR, Sir:
In response to the editorial published on Tuesday October 31, 2017, 'The Pfizer case and slowpoke justice', I hope the presiding judge, Mrs Justice Viviene Harris, gives Pfizer the death-blow right where it counts in their pockets. They should be meant to pay for the injustice they've dealt the local brands.
The long-awaited judgment in the case of local distributor Lasco vs. international pharmaceutical giant, Pfizer, is to be handed down this Friday. The judgment is expected to take into account the extent of damage and loss suffered by Lasco Pharmaceutical as a result of not being able to distribute its generic amlodipine besylate a drug known to treat hypertension, or high blood pressure, a condition we struggle with here in Jamaica and the wider Caribbean.
I couldn't be happier to hear that a local brand was successful in petitioning against an international industry giant. Lasco is seeking from the judgment a total of US$490.1 million, which includes US$170.1 million in interest. The trickle-down possibilities at this point are endless, as Lasco chairman, Lascelles Chin, has promised that his shareholders will benefit from the judgment. That means staff and other stakeholders are about to receive a little something extra, just in time for the holidays. Speaking of something extra, the Government of Jamaica is set to receive approximately US$62 million or J$7.25 billion if the judge grants Lasco the total sum requested. This is a major contribution to the national purse and could go a far way towards the development of well-needed infrastructure or the repayment of the nations debt. Fingers crossed as we wait patiently to see what will materialise.
The ever-controversial Pfizer got more than they bargained for when going up against a 'Third World brand'. 'We likkle, but we tallawah' indeed, especially when it comes to the pursuit of those that have wronged us and money owed to us.
Over the years, Lasco has remained a brand Jamaicans trust and love; they have consistently provided goods, services and medications at low prices for all Jamaicans. A victory for them is a victory for all of us!