Sri Lanka’s Health Ministry has taken steps to impose strict price controls and regulation on 350 types of medicines, marking a significant shift in the country’s pharmaceutical supply sector, Health and Mass Media Minister Dr. Nalinda Jayatissa said.
He noted that the move is aimed at ensuring fair pricing and improving affordability for consumers, adding that the decision will lead to a substantial reduction in the prices of several medicines currently available in the market.
The Minister said the price control mechanism will also help curb unreasonable profit margins and prevent arbitrary price hikes, while strengthening oversight of the pharmaceutical trade to ensure essential medicines remain accessible to the public. (Newswire)
