A Gazette notification has been issued announcing the regulations for a Pricing Mechanism to determine the maximum retail price for a dosage form and the strength of a particular medicine in Sri Lanka.
As per the Gazette, these regulations are cited as the Medicines (Pricing Mechanism for determination of maximum retail price for a dosage form and a strength of a particular medicine) Regulations, No. 01 of 2024. 2.
The object of these regulations is to establish a pricing mechanism for a dosage form and the strength of a particular medicine to ensure transparency and fairness.
Accordingly, the maximum retail price of a dosage form and strength of a particular medicine shall be determined by
(a) using an internationally recognized information portal for identifying the market share by value of different brands or Generic Names of drug formulations; and
(b) verifying retail prices of the relevant dosage form and the strength of a particular medicine from retail pharmacies of different parts of the island and information provided by the State Pharmaceutical Corporation (SPC).
The Gazette notification has been issued by Minister of Health Ramesh Pathirane dated June 28, 2024.
Gazette : http://documents.gov.lk/files/egz/2024/6/2390-18_E.pdf (Newswire)