IBOV 176,227 ▲ 0.28% IPSA 10,928 ▲ 0.16% IPC MEX 66,725 ▲ 1.14% MERVAL 3,238,659 ▲ 0.10% COLCAP 2,300.76 ▼ 0.30% BVL PERÚ 56,428.20 ▲ 1.50% USD/BRL5.07▼ 1.25% USD/MXN17.43▼ 0.59% USD/CLP923.80▼ 0.98% USD/COP3,253▼ 0.30% USD/PEN3.39▼ 0.65% USD/ARS1,473▼ 0.67% USD/UYU40.23▲ 0.99% USD/PYG6,039▲ 1.12% USD/BOB10.35▲ 6.04% USD/DOP58.34▲ 0.44% USD/CRC448.93▲ 1.31% USD/GTQ7.62▲ 2.07% USD/HNL26.73▲ 1.38% USD/NIO36.62▲ 0.63% USD/VES722.19▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.59▲ 0.64% USD/TTD6.75▲ 1.19% EUR/BRL5.80▼ 0.36% BRENT 84.78 ▲ 1.78% WTI 79.09 ▲ 1.22% IRON ORE 161.91 — — COPPER 6.38 ▲ 2.33% GOLD 4,067 ▲ 1.74% SILVER 59.10 ▲ 2.54% SOY 1,192 ▼ 0.83% CORN 460.75 ▲ 5.25% WHEAT 646.75 ▲ 3.15% COFFEE 326.65 ▼ 4.32% SUGAR 14.89 ▲ 0.95% ORANGE JUICE 138.80 ▼ 2.63% COTTON 81.68 ▲ 2.32% COCOA 5,901 ▲ 3.60% BEEF 231.80 ▼ 1.25% CATTLE 349.40 ▼ 1.40% LITHIUM 71.40 ▲ 1.65% PETR4 40.82 ▲ 0.39% VALE3 74.08 ▲ 1.69% ITUB4 43.51 ▼ 0.02% BBDC4 18.59 ▼ 0.96% ABEV3 15.89 ▲ 0.38% BBAS3 20.50 ▲ 1.28% B3SA3 15.32 ▲ 1.32% WEGE3 44.25 ▼ 0.32% PRIO3 57.03 ▼ 0.30% SUZB3 41.14 ▼ 0.84% RENT3 40.35 ▲ 0.37% AZZA3 18.81 ▼ 2.13% CSAN3 3.89 ▼ 0.26% RAIZ4 0.32 ▼ 3.03% PCAR3 2.47 ▼ 4.63% GMAT3 3.96 ▲ 0.51% PSSA3 54.07 ▲ 0.06% CVCB3 1.28 ▲ 2.40% POSI3 3.94 ▼ 1.25% SLCE3 13.71 ▼ 1.15% NATU3 8.51 ▼ 1.05% BRKM5 6.66 ▼ 4.03% RANI3 8.02 ▲ 0.88% CSNA3 5.20 ▼ 0.76% CMIN3 5.22 ▼ 4.22% USIM5 8.29 ▼ 1.07% GGBR4 23.11 ▲ 1.27% ENEV3 26.82 ▼ 0.22% CPFE3 47.02 ▲ 0.38% CMIG4 11.12 ▲ 0.45% EQTL3 40.48 ▲ 0.67% LREN3 14.13 ▼ 0.14% VIVT3 35.30 ▲ 1.64% RAIL3 14.14 ▲ 0.21% KLABIN 17.39 ▼ 0.51% RAIA DROGASIL 18.38 ▲ 0.99% RDOR3 35.60 ▲ 0.11% HAPV3 10.68 ▲ 2.10% FLRY3 16.31 ▲ 0.99% SMTO3 16.22 ▼ 0.92% UGPA3 30.25 ▼ 2.20% VBBR3 32.86 ▲ 0.31% BBSE3 40.15 ▼ 0.32% BPAC11 58.01 ▲ 0.85% CURY3 32.86 ▼ 0.79% AERI3 2.09 ▲ 0.48% VIVARA 23.26 ▲ 0.65% COMPASS 25.13 ▲ 1.45% VAMOS 3.05 ▲ 0.99% SANB11 27.32 ▼ 0.18% ASAI3 8.65 ▼ 0.69% SBSP3 30.31 ▼ 0.20% WALMEX 49.64 ▼ 0.02% GMEXICO 201.59 ▲ 3.07% FEMSA 233.69 ▲ 3.70% CEMEX 22.15 ▲ 1.70% GFNORTE 186.99 ▲ 2.70% BIMBO 56.37 ▲ 0.89% TELEVISA 9.48 ▼ 1.35% AMX 22.86 ▲ 1.20% GAP 386.93 ▼ 5.21% ASUR 278.43 ▼ 0.08% OMA 233.96 ▲ 0.27% KOF 182.17 ▲ 0.50% GRUMA 283.44 ▲ 0.74% KIMBER 38.46 ▲ 0.63% SQM-B 67,880 ▲ 1.00% COPEC 6,082 ▲ 0.41% BSANTANDER 78.65 ▲ 0.58% FALABELLA 5,889 ▼ 0.27% ENELAM 85.49 ▲ 1.53% CENCOSUD 2,064 ▲ 1.19% CMPC 1,081 ▲ 0.26% BANCO CHILE 188.12 ▲ 1.69% LATAM AIR 24.60 ▼ 1.20% YPF 77,375 ▲ 0.26% GGAL 8,025 ▼ 0.68% PAMPA 5,210 ▼ 0.29% TXAR 664.00 ▼ 0.08% ALUAR 960.00 ▼ 0.47% TGS 9,725 ▲ 1.62% CEPU 2,300 ▼ 0.82% MIRGOR 16,825 ▼ 1.03% COME 45.16 ▲ 0.85% LOMA NEGRA 3,565 ▲ 1.93% BYMA 306.00 ▼ 0.73% TELECOM ARG 4,263 ▲ 0.29% ECOPETROL 16.05 ▲ 1.07% BANCOLOMBIA 81.99 ▲ 1.95% GRUPO AVAL 4.92 ▲ 0.20% CREDICORP 390.96 ▲ 0.45% SOUTHERN COPPER 180.16 ▲ 3.23% BUENAVENTURA 30.80 ▲ 3.29% MERCADOLIBRE 1,878 ▲ 0.56% NUBANK 14.01 ▲ 2.45% XP 16.83 ▲ 2.78% PAGSEGURO 9.25 ▼ 0.38% STONE 11.23 ▲ 0.67% GLOBANT 31.86 ▼ 0.81% TECNOGLASS 43.41 ▲ 1.33% GAP AIRPORT 222.39 ▼ 4.46% ASUR 278.43 ▼ 0.08% OMA AIRPORT 107.40 ▲ 1.20% AMX ADR 26.25 ▲ 0.85% FEMSA ADR 134.15 ▲ 3.98% CEMEX ADR 12.72 ▲ 2.17% PETROBRAS ADR 18.00 ▲ 0.64% VALE ADR 14.56 ▲ 2.64% ITAU ADR 8.56 ▲ 1.00% SANTANDER BR 5.40 ▲ 0.84% AMBEV ADR 3.11 ▲ 1.63% CSN 1.03 ▼ 0.49% GERDAU 4.57 ▲ 1.78% LATAM ADR 53.46 ▲ 0.24% BTC 64,712 ▲ 3.97% ETH 1,872 ▲ 5.54% SOL 77.28 ▲ 3.23% XRP 1.10 ▲ 3.64% BNB 581.53 ▲ 2.63% ADA 0.17 ▲ 5.26% DOGE 0.07 ▲ 3.73% AVAX 6.65 ▲ 3.19% LINK 8.27 ▲ 5.06% DOT 0.86 ▲ 2.45% LTC 44.62 ▲ 2.60% BCH 237.99 ▲ 0.74% TRX 0.32 ▲ 0.24% XLM 0.18 ▲ 2.39% HBAR 0.07 ▲ 0.43% NEAR 2.03 ▲ 6.06% ATOM 1.55 ▲ 1.04% AAVE 100.00 ▲ 5.98% SELIC 14.25% EMBRAER 82.96 ▼ 0.06% EMBRAER ADR 65.40 ▲ 1.43% JBS 11.85 ▲ 0.42% JBS BDR 60.11 ▼ 0.82% MBRF3 16.00 ▲ 1.78% MBRFY 3.09 ▲ 1.31% INTER 5.66 ▲ 0.18% IBOV 176,227 ▲ 0.28% IPSA 10,928 ▲ 0.16% IPC MEX 66,725 ▲ 1.14% MERVAL 3,238,659 ▲ 0.10% COLCAP 2,300.76 ▼ 0.30% BVL PERÚ 56,428.20 ▲ 1.50% USD/BRL 5.07 ▼ 1.25% USD/MXN 17.43 ▼ 0.59% USD/CLP 923.80 ▼ 0.98% USD/COP 3,253 ▼ 0.30% USD/PEN 3.39 ▼ 0.65% USD/ARS 1,473 ▼ 0.67% USD/UYU 40.23 ▲ 0.99% USD/PYG 6,039 ▲ 1.12% USD/BOB 10.35 ▲ 6.04% USD/DOP 58.34 ▲ 0.44% USD/CRC 448.93 ▲ 1.31% USD/GTQ 7.62 ▲ 2.07% USD/HNL 26.73 ▲ 1.38% USD/NIO 36.62 ▲ 0.63% USD/VES 722.19 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.59 ▲ 0.64% USD/TTD 6.75 ▲ 1.19% EUR/BRL 5.80 ▼ 0.36% BRENT 84.78 ▲ 1.78% WTI 79.09 ▲ 1.22% IRON ORE 161.91 — — COPPER 6.38 ▲ 2.33% GOLD 4,067 ▲ 1.74% SILVER 59.10 ▲ 2.54% SOY 1,192 ▼ 0.83% CORN 460.75 ▲ 5.25% WHEAT 646.75 ▲ 3.15% COFFEE 326.65 ▼ 4.32% SUGAR 14.89 ▲ 0.95% ORANGE JUICE 138.80 ▼ 2.63% COTTON 81.68 ▲ 2.32% COCOA 5,901 ▲ 3.60% BEEF 231.80 ▼ 1.25% CATTLE 349.40 ▼ 1.40% LITHIUM 71.40 ▲ 1.65% PETR4 40.82 ▲ 0.39% VALE3 74.08 ▲ 1.69% ITUB4 43.51 ▼ 0.02% BBDC4 18.59 ▼ 0.96% ABEV3 15.89 ▲ 0.38% BBAS3 20.50 ▲ 1.28% B3SA3 15.32 ▲ 1.32% WEGE3 44.25 ▼ 0.32% PRIO3 57.03 ▼ 0.30% SUZB3 41.14 ▼ 0.84% RENT3 40.35 ▲ 0.37% AZZA3 18.81 ▼ 2.13% CSAN3 3.89 ▼ 0.26% RAIZ4 0.32 ▼ 3.03% PCAR3 2.47 ▼ 4.63% GMAT3 3.96 ▲ 0.51% PSSA3 54.07 ▲ 0.06% CVCB3 1.28 ▲ 2.40% POSI3 3.94 ▼ 1.25% SLCE3 13.71 ▼ 1.15% NATU3 8.51 ▼ 1.05% BRKM5 6.66 ▼ 4.03% RANI3 8.02 ▲ 0.88% CSNA3 5.20 ▼ 0.76% CMIN3 5.22 ▼ 4.22% USIM5 8.29 ▼ 1.07% GGBR4 23.11 ▲ 1.27% ENEV3 26.82 ▼ 0.22% CPFE3 47.02 ▲ 0.38% CMIG4 11.12 ▲ 0.45% EQTL3 40.48 ▲ 0.67% LREN3 14.13 ▼ 0.14% VIVT3 35.30 ▲ 1.64% RAIL3 14.14 ▲ 0.21% KLABIN 17.39 ▼ 0.51% RAIA DROGASIL 18.38 ▲ 0.99% RDOR3 35.60 ▲ 0.11% HAPV3 10.68 ▲ 2.10% FLRY3 16.31 ▲ 0.99% SMTO3 16.22 ▼ 0.92% UGPA3 30.25 ▼ 2.20% VBBR3 32.86 ▲ 0.31% BBSE3 40.15 ▼ 0.32% BPAC11 58.01 ▲ 0.85% CURY3 32.86 ▼ 0.79% AERI3 2.09 ▲ 0.48% VIVARA 23.26 ▲ 0.65% COMPASS 25.13 ▲ 1.45% VAMOS 3.05 ▲ 0.99% SANB11 27.32 ▼ 0.18% ASAI3 8.65 ▼ 0.69% SBSP3 30.31 ▼ 0.20% WALMEX 49.64 ▼ 0.02% GMEXICO 201.59 ▲ 3.07% FEMSA 233.69 ▲ 3.70% CEMEX 22.15 ▲ 1.70% GFNORTE 186.99 ▲ 2.70% BIMBO 56.37 ▲ 0.89% TELEVISA 9.48 ▼ 1.35% AMX 22.86 ▲ 1.20% GAP 386.93 ▼ 5.21% ASUR 278.43 ▼ 0.08% OMA 233.96 ▲ 0.27% KOF 182.17 ▲ 0.50% GRUMA 283.44 ▲ 0.74% KIMBER 38.46 ▲ 0.63% SQM-B 67,880 ▲ 1.00% COPEC 6,082 ▲ 0.41% BSANTANDER 78.65 ▲ 0.58% FALABELLA 5,889 ▼ 0.27% ENELAM 85.49 ▲ 1.53% CENCOSUD 2,064 ▲ 1.19% CMPC 1,081 ▲ 0.26% BANCO CHILE 188.12 ▲ 1.69% LATAM AIR 24.60 ▼ 1.20% YPF 77,375 ▲ 0.26% GGAL 8,025 ▼ 0.68% PAMPA 5,210 ▼ 0.29% TXAR 664.00 ▼ 0.08% ALUAR 960.00 ▼ 0.47% TGS 9,725 ▲ 1.62% CEPU 2,300 ▼ 0.82% MIRGOR 16,825 ▼ 1.03% COME 45.16 ▲ 0.85% LOMA NEGRA 3,565 ▲ 1.93% BYMA 306.00 ▼ 0.73% TELECOM ARG 4,263 ▲ 0.29% ECOPETROL 16.05 ▲ 1.07% BANCOLOMBIA 81.99 ▲ 1.95% GRUPO AVAL 4.92 ▲ 0.20% CREDICORP 390.96 ▲ 0.45% SOUTHERN COPPER 180.16 ▲ 3.23% BUENAVENTURA 30.80 ▲ 3.29% MERCADOLIBRE 1,878 ▲ 0.56% NUBANK 14.01 ▲ 2.45% XP 16.83 ▲ 2.78% PAGSEGURO 9.25 ▼ 0.38% STONE 11.23 ▲ 0.67% GLOBANT 31.86 ▼ 0.81% TECNOGLASS 43.41 ▲ 1.33% GAP AIRPORT 222.39 ▼ 4.46% ASUR 278.43 ▼ 0.08% OMA AIRPORT 107.40 ▲ 1.20% AMX ADR 26.25 ▲ 0.85% FEMSA ADR 134.15 ▲ 3.98% CEMEX ADR 12.72 ▲ 2.17% PETROBRAS ADR 18.00 ▲ 0.64% VALE ADR 14.56 ▲ 2.64% ITAU ADR 8.56 ▲ 1.00% SANTANDER BR 5.40 ▲ 0.84% AMBEV ADR 3.11 ▲ 1.63% CSN 1.03 ▼ 0.49% GERDAU 4.57 ▲ 1.78% LATAM ADR 53.46 ▲ 0.24% BTC 64,712 ▲ 3.97% ETH 1,872 ▲ 5.54% SOL 77.28 ▲ 3.23% XRP 1.10 ▲ 3.64% BNB 581.53 ▲ 2.63% ADA 0.17 ▲ 5.26% DOGE 0.07 ▲ 3.73% AVAX 6.65 ▲ 3.19% LINK 8.27 ▲ 5.06% DOT 0.86 ▲ 2.45% LTC 44.62 ▲ 2.60% BCH 237.99 ▲ 0.74% TRX 0.32 ▲ 0.24% XLM 0.18 ▲ 2.39% HBAR 0.07 ▲ 0.43% NEAR 2.03 ▲ 6.06% ATOM 1.55 ▲ 1.04% AAVE 100.00 ▲ 5.98% SELIC 14.25% EMBRAER 82.96 ▼ 0.06% EMBRAER ADR 65.40 ▲ 1.43% JBS 11.85 ▲ 0.42% JBS BDR 60.11 ▼ 0.82% MBRF3 16.00 ▲ 1.78% MBRFY 3.09 ▲ 1.31% INTER 5.66 ▲ 0.18%
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The Curmudgeon on Pharmacies

By · April 26, 2011 · 3 min read

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Opinion, by Michael Royster

RIO DE JANEIRO, BRAZIL – The Curmudgeon has always maintained that Le Brésil is a Mediterranean country, save for an accident of plate tectonics which saw it move west rather than north when it came out of Africa eons ago. Recent corroborating evidence has reached us, through BBC Radio 4.

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In the South of France, near the Pyrénees, there are dozens of “spa” towns, where thousands of French come to “take the cure” (at government expense, naturellement). In these parts, there are more pharmacies than you can shake a forked stick at; if you do shake a forked stick, odds are you’ll dowse a “fresh” water spring, whose pungent sulfurous odors will certainly remind you of the adage to be very careful what you wish for.

Consider the village of Amélie-les-Bains, a spa of under 3,000 inhabitants which employs no fewer than five pharmacists, all of whom are overwhelmed by malingerers describing assorted health problems such as noblesse oblige, a/k/a gout.

Being French, these local worthies will dispense medicinal advice, and as a lagniappe, while filling out your prescription, will tell you which of the local fungi are edible, as against those which will bring you urgently back to their pharmacies for relief.

But we digress. Recently, the French Gouvernement, determined to improve access of all citoyens to medicines, sent up a trial balloon, whose main provision was this: hypermarkets and convenience stores (Gasp!!) could sell non-prescription medicaments, e.g. aspirin or antacids. But as the BBC put it, “pharmacies feared they would lose business and fought back, customers stopped describing their symptoms long enough to sign petitions….”

Are you waiting for the punch line? If you live in Brazil, you already know it: “le Gouvernement retreated.” Let us return almost twenty years to the Plano Real, first promulgated in June 1993 through a Presidential Decree having some sixty-plus articles, largely dealing with restructuring the economy so as to eliminate inflation and price controls, thus successfully turning Brazil into a market economy, along the way lopping three zeros off the currency for the fourth time in 26 years.

Returning to our point, le Gouvernement du Brésil, anticipating by at least a decade its unfortunate French follower, added two extraneous articles to the Decree, whose main provision was this: hypermarkets and convenience stores (Gasp!!) could sell non-prescription medicaments, e.g. aspirin or antacids.

Pharmacies feared they would lose business and lobbied ferociously, so that, in 1994 when the Plano Real was finally sanctioned, Congress, whose divining rods were more sensitive to voters than those of the administration, had excised the offending articles.

So, unlike in the U.S. where many of us grew up, neither Brazilian nor French hypermarkets can sell aspirin or antacids, because that “convenience” is not one local consumers desire. Mediterranean cultures prize the small business, the friendly neighborhood store, the dispenser of arcane advice, and legislate accordingly.

Politics trumps Economics. The human factor (“fraternité”) trumps bottom line (“the pursuit of happiness”). MediTerraneanism, in the end, trumps both Plate Tectonics and Wal-Mart. Vive la France! Vive le Brésil!

—––
Michael Royster, aka THE CURMUDGEON first saw Rio forty-plus years ago, moved here thirty-plus years ago, still loves it, notwithstanding being a charter member of the most persecuted minority in (North) America today, the WASPs (google it!)(get over it!)

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