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Medicine prices to go up in new system

A new pricing system will be implemented on medicines in the UAE on Oct.15. According to the new system, the prices of 530 types of chronic disease medicines and euro-priced antibiotics will be up by 5.85 per cent. Also, the prices of 599 types of non-chronic disease and biotic medicines will rise by 21.4 per cent.

Accordingly, as many as 1,129 types of euro-imported medicines - out of 6,932 types registered at the Ministry of Health - will witness an increase in prices. As for local medicines and the ones imported in currencies other than euro, they will not be included in the new pricing policy and their prices will remain the same.

Most of pharmaceutical companies, agents and pharmacies have become ready for implementing the new system. Pharmacies have started to get rid of any remaining stock of medicines whose prices will change and pharmaceutical companies and agents have made arrangements to change price stickers of medicines included in the new pricing system, which will be made available at pharmacies from Oct.15.

According to the new pricing system, all pharmacies are required to affix the new prices on the types of medicines whose prices will be modified, effective from Oct.15, noting that the necessary legal measures will be taken against any violating pharmacies.

In the meantime, the Ministry of Health has succeeded to cut the expected increase in medicine prices from 32 per cent to 15 per cent after reducing the margin of total profit of the parties involved.

Source: Gulf Today
Posted: 04/10/2008

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