The Ministry of Health has issued a new Gazette notification revising the maximum retail price of sixty (60) types of medicines, including paracetamol.
According to the Gazette issued yesterday, the prices of the medicines have been reduced by 16% with effect from June 26, 2023.
The Gazette states a manufacturer or importer who sells any Scheduled Medicine at a Maximum Retail Price as specified in the Schedule to the Medicines (Ceiling on Prices) Regulations of 2019 and last amended in 2022 shall not sell such medicine at a price more than the Maximum Retail Price specified in the Schedule to these regulations.
A manufacturer or importer who sells any Scheduled Medicine at a revised retail price which is less than the Maximum Retail Price specified in the Schedule to the Medicines (Ceiling on Prices) Regulations of 2019 and last amended in 2022, shall reduce proportionately such revised retail price by a total sixteen per centum (16%).
Every trader, distributor, pharmacist, medical practitioner, dentist, veterinary surgeon, medical institution including a private medical institution, pharmacy or person who or which is in possession of the Scheduled Medicines for the purpose of sale shall maintain the price of the Scheduled Medicines at the maximum retail price or revised retail price whichever is less.
The Gazette notification is as follows: Gazette – Medicine price (NewsWire)
