Press briefing of Cabinet Decision taken on 2023-06-05

Reduction in the price of Essential Medicines

- The National Medicines Regulatory Authority established under the National Medicines Regulatory Authority Act No. 5 of 2015 acts as the regulator for all the matters related to the pricing of medicines. Taking into account the depreciation of the Rupee against the United States Dollar, the Ministry of Health has granted approval to increase the maximum retail price of medicines up to 97% in several occasions. As a result of the current economic stabilization program followed by the Government, the value of the United States Dollar has decreased in a considerable amount. Accordingly, the proposal made by the Minister of Health to reduce the maximum retail price of 60 types of medicinal products by 16% with effect from 15th June, 2023 and to review the prices of the medicinal products every three months, was approved by the Cabinet.