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Agostini group CEO Barry Davis.
Photo courtesy Agostini. - ADDRESSING CLAIMS that Agostini Group was at the head of a medical monopoly which controls the pharmaceutical sector and has influence over pricing, distribution and access to medication, the group issued a statement saying that its group has had less than half of the value for government tenders and has distributed on average less than 30 per cent of the country’s medicinal products.
Agostini issued the statement on December 5 in yet another dismissal of claims that the 100-year-old company is a monopoly.
Agostini, in the release, said the pharmaceutical distribution sector was well regulated and competitive. The group said there are more than 70 registered distributors supplying medicines nationwide.
“The private retail market includes 500-plus pharmacies across the country,” the group added. “Superpharm and Mpharmacy, while a part of the Agostini Group, operate separately from Aventa. They represent the second largest retailer of pharmaceuticals in the country and have 20 outlets. We estimate their market share to be 18 per cent.”
The group also shared a graph highlighting Aventa’s share of government tenders and awards between 2011 and 2025 in response to claims that the company, along with one other, dominates the procurement market.
The graph showed that between 2011 and 2015, under the People’s Partnership, Aventa received between 40 and 50 per cent of the value of government tenders for pharmaceuticals and supplied a little over 20 per cent of the products required by government. Between 2014 and 2015, the company saw the largest share of tenders, providing about 30 per cent of the products required by government at 50 per cent of the value of government tenders for pharmaceuticals.
From 2016 to 2025, according to the graph, Aventa provided around 20 per cent of the products required by the government at between 30 and 40 per cent of the overall value of tenders for pharmaceuticals.
Agostini, in its release, said Aventa received 34.3 per cent of government tenders for pharmaceuticals from 2023-2025, supporting claims made of its share in the public procurement market. It supplied 16 per cent of the products required by the government.
Agostini: We are not a monopoly
This is not the first time the group had cause to respond to claims of monopolising the pharmaceutical sector.
In January, then opposition senator and now senate president Wade Mark raised issue with “a certain company” which had a 30-per-cent stake in the sector, claiming it was abusing its power. That statement was made at the adjournment of the Senate on January 21.
In June, Minister in the Ministry of Health Dr Rishad Seecharan took issue with the pricing of pharmaceuticals under the former PNM administration. Noting that, through the Chronic Disease Assistance Programme (CDAP) the government had spent around $4.4 billion and this led to the creation of “behemoths” in the industry.
The group was also put under the microscope in September when it was listed among those companies which received some of the highest allocations of foreign exchange (forex) through the EXIMBANK facility.
Agostini responded to questions from Newsday on monopoly control and access to forex in the pharmaceutical sector in late October. The group, through CEO Barry Davis, denied the claims that the company had control over the pharmaceutical industry.
“Agostini has been an efficient and well-managed company for a hundred years. Aventa (formerly SmithRobertson) has been distributing pharmaceutical products consistently and safely for over 130 years. Our success has been built on longstanding relationships with global suppliers, consistent and affordable service to our customers, and strict compliance with regulatory standards in each country in which we operate,” Davis said.
Davis referred to statements made by Aventa CEO James Walker in July which highlighted the 34 per cent share of tender awards, saying it was lower than previous years and that showed “continuing competition in the market.”
“In retail, SuperPharm and Mpharmacy operate a combined total of 20 pharmacies while there are 500 pharmacies in TT,” Davis said.
He said on the issue of pricing, prices are set based on international sourcing costs, which have risen globally due to inflation, manufacturing constraints, and increased demand for branded drugs.
On its access to forex through the EXIMBANK facility, Davis said the group complies with all requirements under the facility, which plays an important role in supporting local manufacturers.
“Aventa and Acado provide critical and essential items, specifically pharmaceutical products and basic food items including cheese (Anchor, Mainland, Violife), butter (Blue Band, Golden Ray) and milk (JusMilk, Moo, Super Cow, Kerrygold) to communities in TT,” Davis said.
He said payments are made directly from EXIMBANK to international suppliers on behalf of the group. The group provides TT-dollar equivalent, including applicable handling fees to EXIMBANK.
“No US funds are received by Aventa or any of our subsidiaries,” he said. “Independent of this, our Group does have loan facilities with the EXIMBANK.”
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