Parallel distribution creates competition
Parallel import is practiced in many fields, e.g. cars, construction materials, clothing, food and pharmaceuticals. Parallel import is based on the principles of free movement of goods in EU/EES.
The prices of medicines differ among the EU member states, and this fact - combined with the basic EU/EES principles of the free movement of goods – makes parallel import of medicines interesting, even though this trade is subject to many restrictions. All distributed pharmaceuticals must for example be approved by the national medicine regulatory authorities or by the European Medicines Agency (EMEA).
Paranova buys pharmaceuticals in countries in which the price is low and sells them in countries where the price is higher. Paranova’s prices are always competitive with the prices charged by direct importers. This means that Paranova saves individual consumers and taxpayers money.
Parallel trade also means competition in products that would otherwise be in a monopoly-like position, hindering competitive pricing.