Effective today, the maximum retail price of 60 types of medicines is to be reduced by 16 percent.

The relevant gazette notice is scheduled to be issued by the Minister of Health, Mr. Keheliya Rambukwella.
 
Last week, the cabinet approved the proposal to reduce the maximum retail price of 60 types of medicines by 16 percent.

The National Drug Regulatory Authority established under the National Drug Regulatory Authority Act No. 5 of 2015 is responsible for regulating all activities related to drug pricing.
 
Minister Keheliya Rambukwella said that considering the increase in the value of the Sri Lankan Rupee compared to the US Dollar, it was decided to reduce the price of medicines.
 
The Health Minister stated that after extensive discussions with the relevant authorities, it was decided to reduce the price of NMRA drugs which are regulated by a price control.

This price revision is applicable for three months.

Considering the depreciation of the Sri Lankan Rupee against the US Dollar, the Ministry of Health had given consent to increase the maximum retail price of medicines up to 97 percent on several occasions since last year.

The cabinet paper submitted by the health minister stated that as a result of the economic stabilization program implemented by the gove ment, the value of the US dollar has dropped significantly and its benefits should be enjoyed by all citizens.
(colombotimes.lk)