Sri Lanka reduces medicine prices

COLOMBO ( The Island/ANN ) - Health Minister Rajitha Senaratne said yesterday that a reduction in the prices of 48 essential medicines, had resulted in a total benefit of Rs.4.4 billion to the community of patients .

The finding was based on a survey conducted by the National Medicines Regulatory Authority on the impact of reducing the price of 48 essential medicines, by Extraordinary Gazette No.1989/61 dated October 21 2016, he noted.

Senaratne said that due to the price reductions, an overall  increase in the use of medicines by patients,had been recorded.

When retail price regulations were introduced to nearly 280 medicines with trade names, it was assumed that the use of high quality medicines may decrease. However, the survey had found that the use of trade and innovative medicines had increased by 600 percent, he  revealed.

Senaratne said that as a result of this regulative  process, the community of patients who used these medicines , had benefited by a total of Rs.4.4 billion.