Prices of 629 medicines reduced

Decision concerns both
local manufacturers and importers

The Ministry of Public Health reduced prices on 629 medicines by 20 percent on average. These medicines include innovators and generics from both local and international brands, according to MP Naji Gharious, member of the Parliamentary Health Commission. According to an earlier decision taken in 2013, generic medicines prices should be 30 percent less than innovators.

Generic drugs are pharmaceuticals that are similar to listed brand or reference drugs (called innovator drugs) in intended use, quality, dosage, strength, and route of administration.

The prices were reduced for 76 digestive system and diabetes medicines (21.5 percent), 83 for heart and vascular (19.8 percent), 29 for skin disease (25.9 percent), 64 for cancer (17.7 percent), and others.

Pharmaceuticals importers and local factories are required to reduce the prices immediately. The new prices will be available in pharmacies as of April 15.

Manufacturers and importers will abide by this decision, and will apply the new prices, according to a source from a local manufacturing company. The source said that this decision will decrease profit margins. Pharmacists will not be affected as their margin of profits will remain at 23 percent. Their revenues will only decline due to the decrease in the prices of medicines.

The Ministry will be supervising and controlling the implementation of this decision.

The type and name of medicines that are affected by the reduction in prices will be published, along with their previous prices. All these details will be posted on the website of the Ministry of Health. There will be a hotline for complaints.