New Price Control Mechanism to Lower Medicine Costs in Sri Lanka

COLOMBO (News 1st); A decision has been made to introduce a new price control mechanism to reduce the cost of medicines.

Deputy Minister of Health and Mass Media, Dr. Hansaka Wijayamuni said that under this new system, the maximum price range at which medicines imported into the country can be sold, will be published in the relevant gazette notification.

Accordingly, the maximum price for an imported medicine to be sold in the Sri Lankan market will be Rs. 1.65 per unit.

The Deputy Minister further pointed out that the authority to regulate medicine prices will be entrusted to the National Medicines Regulatory Authority (NMRA), and regulations will be formulated for this purpose.

With the implementation of the new regulations, every batch of medicine brought into the country will undergo price regulation.

It will be the responsibility of the Price Control Committee of the National Medicines Regulatory Authority to ensure that this process is properly carried out.