New Price Formula for Medicinal Drugs.

The Ministry of Health will today(23) announce the new price formula for medicinal drugs.

The price formula for medicines will be announced by Minister of Health Rajitha Senaratne. The price formula for medicinal drugs was introduced through the National Drug Policy compiled by Professor Senaka Bibile.

The National Drugs Regulation Authority last month agreed to issue the gazette notification announcing the reduction in prices of pharmaceuticals by the 31st of August.

Minister Senaratne noted following the introduction, the prices of medicines will be reduced by up to 85 percent and several expensive medicines up to 10 percent.

The Ministry said after the issuance of the gazette on reduced prices of medicine, pharmaceutical companies will not be allowed to arbitrarily revise the prices of medicines and other additional costs. Rajitha Senaratne noted, by introducing the formula, the government aims to protect the lives of patients and to provide medicine at lower rates.