The Pharmaniaga Scam

There is a company that imports medicines from India and sells it to Government hospitals. India is now a major pharmaceutical power in the world and they manufacture high quality drugs but very cheaply. This particular company buys the drugs in India at a cost of about RM10.00 per pack. They say that if they can sell their imported medicine directly to the Gomen hospital, they will charge the Gomen about RM15.00 per pack - which means they slap on a 50% markup to cover transportation, expenses and of course some profit for them.

But the drug is actually sold to the Gomen hospital for RM45. Here is how it happens. The importing company cannot sell the drugs directly to the Gomen. They must go through Pharmaniaga Bhd which we all know is an UMNO company. Its Directors include UEM boss Dato Ahmad Pardas Senin, failed outsourcing guru Dato Azman Yahya and UMNO henchman Dato Raja Nong Chik.

But even here the company cannot sell the drugs directly to Pharmaniaga at RM15. They first have to sell their drugs to yet another crony company which is "connected" to Pharmaniaga. So the crony intermediary buys the drugs first at RM15.00 and then sells it to Pharmaniaga at a mark up of say RM30.00.

The interesting thing is this is just a paper transaction. They may not even take physical possession of the drugs. They may just tell the importing company to deliver the drugs direct to Pharmaniaga. They just bill Pharmaniaga and cream off the difference. Now kawan-kawan, this has been going on for donkey years since Pharmaniaga was set up in the 1990s.

Then Pharmaniaga finally sells the drug to the Gomen hospitals for RM45.00 a pack. And who pays for all this creaming off? Its you and me Encik Taxpayer. We are the suckers.

source: Malaysia Today

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