Sri Lanka imposes price cap on 500 medicines
The National Medicines Regulatory Authority (NMRA) has announced that maximum retail prices have been imposed on about 500 types of medicines in Sri Lanka.
According to NMRA Chairman, Consultant Dr. Ananda Wijewickrama, the new pricing formula was approved in Parliament yesterday (October 21), giving the NMRA legal authority to control medicine prices across the country.
The move follows complaints that certain pharmaceutical importers were selling essential drugs at excessively high prices, making it difficult for many patients to afford treatment.
Under this new system, both existing and newly registered medicines in Sri Lanka will now have a fixed maximum retail price as well as a controlled price range.
Dr. Wijewickrama said the revised formula will help reduce medicine prices and bring significant financial relief to the public.
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