x Abu Dhabi, UAEFriday 28 July 2017

Drug firms asked to cut prices

Manufacturers have been asked by the Ministry of Health to look at potential price cuts of between five and 10 per cent.

DUBAI // Drug manufacturers have been asked by the Ministry of Health to look at potential price cuts of between five and 10 per cent. The aim is to lower prices of medicines developed more than five years ago, said Dr Amin al Amiri, the executive director of medical practice and licensing at the ministry. According to the ministry, the call was welcomed by firms who attended the annual meeting of the Pharmaceutical Research and Manufacturers Association Gulf.

Dr Amiri said: "The fact the meeting was held in Dubai was a clear indication of the position of the UAE as an international destination for international events and decision makers encounters, particularly in the fields of trade and industry." The drug manufacturers are due to send the ministry new price lists by the end of this year so the changes can be applied at the start of 2009. Currently, global manufacturers sell their products to local distributors, who then sell them to pharmacies.

In July, the ministry announced that prices for chronic and non-chronic medicines from Europe would rise by the end of this year because of currency fluctuations with the euro. munderwood@thenational.ae