Pharma chamber to comply but has concerns on gazette

prescription-drugsThe Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) says it will comply with the gazette on the drug price reduction, but will keep channels open for further discussion and negotiations.

SLCPI says it has always held the view that a practical pricing mechanism would ensure fair play to all stakeholders from the patient to manufacturer, importer distributor and retailers.

Whilst the SLCPI is committed to work closely with the Government of Sri Lanka in bringing the best possible healthcare services to the people of this country, SLCPI expects a meaningful interaction in devising a long term solution that will benefit the Sri Lankan people.

The Chamber says the currently imposed ceiling on drug pricing which has been gazetted, runs the risk of innovator drug companies exiting the market due to their inability to price pharmaceutical products as low as what is stipulated by the authorities. It is almost impossible for an innovator drug, manufactured after years of research and clinical trials to be priced similar to one of its generic formulations.

While the SLCPI confirm that there are very effective generic products in the market there are many instances when the quality of some of these products become questionable.  Therefore, placing total dependence on this pharmaceutical segment can jeopardise the health of the patient.  Furthermore, in the case of the innovator products SLCPI says it is important that the agencies representing these companies are present in Sri Lanka.

“Whilst we sincerely hope that the innovator companies will device a method to continue the availability of these Pharmaceutical products in this market; the regulators would need to view this rather serious issue objectively, taking into account all the market forces.  Otherwise, there is the strong possibility of innovator drugs, as well as some reputed pharmaceutical manufacturers producing standardised drugs  exiting the country,” SLCPI said.