Deputy Health Minister Dr. Hansaka Wijemuni yesterday (25) assured that the Health Ministry is not considering the increase of medicinal drug prices, despite the increase in the cost of raw materials (ingredients). 

Speaking to The Daily Morning in response to a question regarding the impact of the increased fuel costs globally on medicine costs, Dr. Wijemuni said there is a maximum ceiling price slapped on 600 medicinal drugs. “These prices cannot be breached”. 

Explaining, he said that there is also a formula which is followed when calculating the maximum retail prices (MRPs) of medicinal drugs. Dr. Wijemuni said the MRP of medicines is calculated by the National Medicines Regulatory Authority, utilising a formula based on cost, insurance, and freight (CIF), taxes, and a regulated markup (CIF plus duties/taxes plus supply chain total markup).  

He said that legal action could be taken against anyone who violated the maximum ceiling price and MRP. 

Fielding further questions, he said that the increase in the cost of ingredients would affect local pharmaceutical manufacturers. 

The local pharmaceutical manufacturers said earlier this week that they would have to increase the cost of the products owing to the increase in the cost of ingredients and import costs. They said however that they would continue to supply medicines at current costs till their old raw material stocks lasted.