News

Approval granted to increase price of medicine

10 Mar, 2022

Approval has been granted to increase the price of medicine, State Minister of Drug Production, Supply and Regulation Professor Channa Jayasumana said.

Accordingly a 29 percent increase has been approved on all medicines.

The Sri Lanka Chamber of the Pharmaceutical Industry (SLCPI) had recently requested policymakers to adjust the price of essential medicines currently under price control, to ensure continued availability of these drugs in the market.

SLCPI commended the Ministry of Health?s decision to increase the control price of Paracetamol. At the same time, the SLCPI also requested policymakers to adjust the price of other essential medicines currently under price control.

In this context, the SLCPI anticipated an urgent upward price adjustment of 18% on all Price Controlled products as per a written request made to the Chairman of the pricing committee of the National Medicines Regulatory Authority on 1^st?September 2021.

Highlighting patient needs and well-being as the industry?s most critical priority, the Chamber requested authorities to consider designing and implementing a pricing mechanism that would periodically review market prices, import costs and other relevant access issues to prevent medicine shortages.?(Colombo Gazette)

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