Mexican competition watchdog probing possible monopolies in medicine, transport

Mexico’s federal competition watchdog agency (Cofece) announced during the week of 17 October 2016 that a pair of investigations would look into potential monopolistic practices. El Financiero on 20 October 2016 reported the Cofece believes there may be a monopoly in the maritime transport of vehicles. The entity did not name which companies may be involved in the possible monopoly, but did warn they could face fines of up to 10 percent of their earnings. Meanwhile, the Cofece will probe the Mexican pharmaceutical sector over the production, distribution, and commercialization of medicine (El Informador, 19 October 2016). Among the companies being looked into by the Cofece are firms named as part of the “Panama Papers” leak of documents detailing wealthy individuals and firms circumventing paying taxes via havens and shell companies.