Medicine prices to increase by 29%

Pills medicine

(Photo: Unsplash)

The Medicines Price Control Committee had granted approval to increase the prices of medicines by 29%.

State Minister Professor Channa Jayasumana told Parliament that pharmaceutical importers had requested for price increases for pharmaceutical products due to the increase of the US Dollar against the rupee in the past two days.

He said there was a shortage of drugs during the last few days as traders, distributors and importers either hoarded the stocks or stopped distribution thinking that drug prices would go up.