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Pharmaceuticals price revision: Prices of over 500 brands hiked

21 Aug 2021

  • Prices of drugs used to treat Covid-19 patients also increased 
  • Prices of 38 eye lenses, blood glucose meters/strips increased
  • Price revision recommended by NMRA Pricing Committee
  • Govt. move to increase prices will help the bleeding industry: SLCPI 
 BY Maheesha Mudugamuwa The prices of over 500 pharmaceutical brands including several essential drugs that are being used to treat Covid-19 patients, have been increased in parallel to the recent price revision gazetted by the Health Ministry last week, The Sunday Morning learnt. The price hike of drugs, which amounted to 9%, led to an increase in the prices of several essential drugs including azithromycin (oral antibiotic), albendazole (used to treat parasitic worm infections), amoxicillin (antibiotic), paracetamol (used to treat fever and mild to moderate pain), and cefuroxime (antibiotic). Issuing an extraordinary gazette notification on Thursday (19), newly appointed Health Minister Keheliya Rambukwella amended the Medicines (Ceiling on Prices) Regulations of 2019 published in the Gazette Extraordinary No. 2123/35 of 15 May 2019 by increasing the maximum retail prices (MRPs) of 60 essential medicines and 38 intraocular lenses/lenses with delivery system (preloaded provided with cartridge) by amending the Medical Devices Pricing Regulations No. 1 of 2017 published in the Gazette Extraordinary No. 2006/45 of 17 February 2017, as amended by regulations published in the Gazette Extraordinary No. 2114/54 of 15 March 2019. Furthermore, the MRP of two selected medical devices – the blood glucose monitoring system and test strips for the blood glucose monitoring system – have also been revised; by amending the Medical Devices (Pricing) Regulations of 2018 published in the Gazette Extraordinary No. 2086/37 of 31 August 2018 as amended by regulations published in the Gazette Extraordinary No. 2114/54 of 15 March 2020. The last such price revision was made in May 2019 when the exchange rate was at Rs. 178 per US dollar.  This recent price revision was recommended by the Pricing Committee of the National Medicines Regulatory Authority (NMRA).  NMRA Chief Executive Officer (CEO) Dr. Kamal Jayasinghe noted that the recommendations were made based on a request put forward by the State Ministry of Production, Supply, and Regulation of Pharmaceuticals. The pharmaceutical companies have, since last year, requested for a price increase for all essential drugs that is commensurate with the depreciation of the rupee.  However, an official request was made by the Sri Lanka Chamber of the Pharmaceutical Industry (SLCPI) to the NMRA to raise the prices of essential drugs by 9% due to the same since May 2019. When contacted by The Sunday Morning, SLCPI Chairman Sanjeewa Wijesekera welcomed the Government’s decision as an interim measure to save the already bleeding industry that has been severely affected by the recent rupee depreciation. He said the prices have been revised as per a request made by the SLCPI in 2020, when the exchange rate was around Rs. 190 per US dollar.  “Now the exchange rate has gone up to nearly Rs. 215 and recently, we requested a 20% increase,” he added. Wijesekera noted that further discussions would be held in the future. All-Island Private Pharmacy Owners’ Association (ACPPOA) President Chandika Gankanda said the price revision would affect the prices of over 500 pharmaceutical brands and also several other medical devices. He also said that though the members of his association would not be benefitted from the price increase, the price revision would solve the existing drug shortage issue and would also guarantee the best quality products in the market. Last month, it was reported that there was a short supply of around 40 essential drugs in the local market. According to the All-Island Private Pharmacy Owners’ Association, the drugs, namely, propylthiouracil (used to treat hyperthyroidism), lidocaine gel (anaesthetic), clobazam (used to treat seizures), tolbutamide (used to treat type 2 diabetes), Nitrofurantoin (antibiotic used to treat bladder infections – 25 mg, 50 mg, and 100 mg), chloramphenicol (antibiotic – oral), phenobarbitone (barbiturate), ascorbic acid/vitamin C (100 mg), and thyroxine (thyroid hormone – 100 mg and 50 mg), were out of stock in pharmacies.


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