On September 23, 2026, Executive Decree No. 45934-MEIC, "Temporary price regulation scheme for the medicines in the regulatory basket," was published in Supplement No. 127 to the Official Gazette (La Gaceta). The decree sets mandatory maximum unit prices, in colones, for 142 pharmaceutical groupings (68 active ingredients) sold in the Costa Rican private market, with a separate cap for each link in the supply chain, calculated on the basis of international reference prices.
The decree takes effect on December 23, 2026 and will remain in force for up to six months, subject to extension. It replaces the approach of Decree No. 44863-MEIC, which regulated trade margins until it expired on February 18, 2026: instead of controlling percentages, it now sets absolute caps per presentation.
Key features of the decree
- Scope by grouping: the cap is set per pharmaceutical grouping (active ingredient, dosage form and strength), so it applies to every brand within that grouping (Annex II).
- Three maximum prices: the Maximum Wholesale Acquisition Price (PMAM), at which the wholesaler buys from the laboratory, manufacturer or importer; the Maximum Retail Purchase Price (PMCM), at which the pharmacy buys from the wholesaler; and the Maximum Consumer Sale Price (PMVC).
- Calculation: the PMVC equals the International Reference Price (ERP), determined from final consumer prices in reference markets selected by the MEIC's Economic and Commercial Analysis Directorate (DAEC). A maximum retail mark-up of 40% and a maximum wholesale mark-up of 20% are then backed out.
- Prices below the cap remain free: the mark-ups are calculation parameters and do not constitute guaranteed profit margins
Recommendations before December 23, 2026
- Compliance in every transaction. Respecting the consumer price is not enough: every sale between links in the chain must meet its corresponding cap (PMAM or PMCM). Companies should map their portfolio against Annexes I and II and convert each package to a unit price to compare it with the cap.
- Inventory. The decree provides no transitional rules for stock acquired before December 23, 2026 at higher prices. Companies should plan now how to handle that inventory.
- Data-driven enforcement. The DAEC will monitor the market on an ongoing basis and may use information from other institutions, including electronic invoicing data from the Ministry of Finance. Non-compliance triggers the penalty regime of Law No. 7472, so invoicing and point-of-sale prices must be adjusted and properly documented.
- Commercial relationships. Review price lists, contracts, discounts and bonuses with each link in the chain, and consider technical or legal action if any cap proves unworkable or inconsistent.
At Zürcher Odio & Raven we advise laboratories, drugstores and pharmacies on assessing the decree's impact on their portfolio, adapting their commercial relationships and handling proceedings before the MEIC.
By Claudio Donato
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