The National Medicines Regulatory Authority (NMRA) is gearing up to introduce a fresh pricing mechanism for pharmaceutical items starting next year, as revealed by NMRA Chairman Dr. Ananda Wijewickrama to The Sunday Morning. The ongoing discussions on this pricing framework are expected to conclude by early next year, following final consultations with the ministry.
Presently, the Maximum Retail Price (MRP) is defined for only 60 medicines, prompting acknowledgment from Dr. Wijewickrama regarding the imperative to extend this coverage to a more extensive range of medications. He stressed the need to make essential medicines more affordable and accessible for the public.
The discussions have reached a stage where expert committees are actively deliberating on various aspects of the proposed pricing mechanism. Dr. Wijewickrama anticipates significant implications for Sri Lanka’s pharmaceutical landscape, emphasizing the importance of a pricing framework that ensures fairness, transparency, and accessibility for all.
M. Prathaban, President of the Sri Lanka Chamber of the Pharmaceutical Industry (SLCPI), confirmed ongoing discussions with the NMRA to formulate this new pricing mechanism. He highlighted the urgent need for a comprehensive pricing mechanism in the pharmaceutical sector, focusing on quality, accessibility, and affordability.
Prathaban proposed the adoption of a centralised, transparent, and workable pricing mechanism that addresses issues such as exchange rate fluctuations. The SLCPI aims to strike a balance between benefiting the industry and end-users through streamlined pricing.
The Health Ministry revised the MRP of 60 types of medicines in June, reducing their prices by 16% with effect from June 26. This followed three price revisions in 2021 due to exchange rate fluctuations, with increases of 9%, 29%, and 40%, respectively. The collaborative effort between the SLCPI and the NMRA aims to address the evolving needs of the pharmaceutical sector in Sri Lanka. Source – The Morning
