Pharma Chamber calls for sustainable pricing mechanism | Sunday Observer

Pharma Chamber calls for sustainable pricing mechanism

16 September, 2018

The Sri Lanka Chamber of the Pharmaceutical Industry (SLCPI) at a media briefing last week called upon policy makers to have sustainable pricing mechanism for medicinal drugs balancing availability and affordability of drugs in the country.

The Chamber noted that changes to pricing of medicinal drugs will not be sustainable if the is no blending of availability and affordability of medicine. It said that the current exchange rate which is rising sharply should be considered in slashing prices of essential drugs.

The government slashed the prices of 48 essential drugs initially and then in the prices of another 28 recently to make access to healthcare affordable while also ensuring quality and efficacy of drugs to patients.

The rational medicinal drug policy of Prof. Senaka Bibile, a medical luminary is aimed at ensuring the impoverished patients would get reasonable drugs at a low price. Further the policy states that doctors prescribe the minimum required drugs to treat illnesses.

SLCPI President Shyam Sathasivam said the pharmaceutical industry is in no way against providing affordable drugs to the citizens but affordability must be combined with availability.

“The reduction in prices of drugs when the rupee is being devalued is not sustainable and the price reduction move has hit the retailers, distributors and manufactures who have to grapple with increased cost of compliance for pharmaceutical storage and other overhead costs.

However, medical experts say there are far too many drugs imported under various brand names for the same generic drug and sold at various prices. There are over 700 substitute brands for generic Acetaminophen or paracetamol manufactured by over 300 companies across the world. The common brand names include Tylenol, Calpol and Panadol.

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