Mobile Alerts  Newsletter  RSS  Archives  About Us  Bookmark Us  Twitter GMANews.TV
Business

Customs recovers P9 million worth of missing anti-ulcer drugs

Email the Editor Print | | More
MANILA, Philippines - The Bureau of Customs (BOC) ordered an internal inquiry regarding the apparently “questionable" release of a P9-million shipment of anti-ulcer and heartburn medication manufactured by Nicomed of Germany.

This was announced after the agency recovered the shipment upon the request of pharmaceutical distributor Zuellig Pharma Corp.

The shipment, which arrived in January, comprised of 61 boxes of 21,960 vials of 40-milligran Pantoloc Pantoprazole.

“If these were not recovered, these would have been sold illegally and could be dangerous if administered to patients. That could have translated to over 21,000 lives put at risk," BOC commissioner Napoleon L. Morales said in a statement.

As a result, Ninoy Aquino International Airport (NAIA) Customs personnel involved in the processing, assessment, and release of the shipment will be investigated by the Customs internal inquiry and prosecution division.

The shipment was released to Majestic Freight Forwarders after paying a measly P56, 599.00 in duties and taxes for the shipment undervalued at $4,000.

“These should not have been released by NAIA customs with the gross undervaluation of the medicines," Morales said.

BoC said Zuellig is "inclined to destroy the lot since the quality and efficacy of the drug might have been compromised" while in Majestic Freight Forwarders’ possession.

A certain Rommel Palma, an employee of Majestic Freight Forwarders, requested authority from Zuellig for Nicomed's forwarder Kuehne+Nagel (AG&Co.) to release the shipping documents.

The shipment consigned to Zuelling Pharma arrived via flight KL830 in January 24, three days before Palma informed the pharmaceutical distributor.

"Zuellig issued the said authorization and the shipping documents covering the shipment of Pantoloc IV was released to Majestic’s alleged representatives. The shipment was released at around 5:30 in the afternoon of the same date and claimed by a certain Myra Principe," the statement read.

Majestic Freight Forwarders later demanded from Zuellig reimbursement for P1.5 million it allegedly paid Customs for the release for the release of the shipment.

However, Zuellig declined to pay.

"To goad Zuellig and prove that the goods were indeed with them, Majestic loaded the drug in a truck and brought before Zuellig’s premises. Majestic also presented a Land Bank of the Philippines receipt and import entry which both turned out to be fake," the statement read. Ruby Anne M. Rubio, GMANews.TV
Email the Editor Print | | More
Other Business stories
US stocks fall for 3rd day as dollar strengthens
11/21/2009 | 12:25 PM
Stocks fell for a third straight day Friday as a disappointing outlook from computer maker Dell Inc. suggested that an economic recovery could be uneven. The major indexes all had moderate losses,... More
Anchor Land profits surge on strong sales, completed projects
11/20/2009 | 09:23 PM
Anchor Land Holdings Inc., an upscale real-estate company, said earnings surged by more than half as it increased sales and completed more projects. More
Malaysian economy shrinks at slower rate
11/20/2009 | 08:39 PM
KUALA LUMPUR - Malaysia's economy shrank 1.2 percent in the third quarter, an improvement from the previous two quarters as the financial services and construction sectors gained strength,... More
Sony bets new online service to boost brand loyalty
11/20/2009 | 08:31 PM
TOKYO - Sony's new online service connecting the whole range of its gadgets to downloadable content like movies and games should help build brand loyalty, a top executive said Friday. More
AirAsia earns from rising passengers, add-on services
11/20/2009 | 08:27 PM
KUALA LUMPUR, Malaysia - Budget carrier AirAsia said Friday its net profit totaled 130 million ringgit ($38.4 million) in the third quarter, buoyed by rising passenger numbers and income from... More
EU extends antitrust review of Oracle's takeover of Sun Microsystems
11/20/2009 | 08:24 PM
BRUSSELS - European Union regulators said Friday that they have extended until January 27 a deadline to wrap up their antitrust review of Oracle Corp.'s planned $7.4 billion takeover of Sun... More
Nokia sheds jobs in Finland as it struggles to cut costs
11/20/2009 | 08:22 PM
HELSINKI - Nokia Corp., the world's largest mobile phone maker, said Friday it is axing 330 jobs at research and development units in Finland and Denmark as it continues to struggle to cut... More
Banks' bad debt ratio declines to eight-year low
11/20/2009 | 06:44 PM
Soured loans of universal and commercial banks fell to an eight-year low as the industry continued to lend steadily, the Bangko Sentral ng Pilipinas reported on Friday. More
ADVERTISEMENT
Abu Sayyaf commander killed in Basilan
2009-11-20 14:27:05
A sub-commander of the al-Qaeda-linked Abu Sayyaf linked to various kidnapping and bombing...
Obama answers top Cuban blogger
2009-11-20 00:42:54
HAVANA – President Barack Obama has answered written questions from a Cuban blogger who has...
Arroyo to lead hero's welcome for Pacquiao
2009-11-19 22:53:12
A grand hero's welcome at the Quirino Grandstand in Manila awaits Filipino boxing icon Manny...
De-listed OFW group holds 'funeral' in Comelec, calls for Melo's dismissal
2009-11-20 17:11:58
Overseas Filipino worker (OFW) group Migrante International on Friday held a “funeral march" in...