Sri Lanka Government to slash medicine prices by breaking supplier monopolies

Deputy Minister of Health and Mass Media, Dr. Hansaka Wijemuni, stated that the price of medicines could be significantly reduced by fostering competition among pharmaceutical suppliers.

He noted that, in the past, certain medicines had only one registered supplier.

As a result, the market monopoly compelled the government to purchase those medicines at high prices, he explained.

Deputy Minister Wijemuni added that steps were promptly taken to register new suppliers for medicines previously monopolized by a single supplier.

Accordingly, he reported that the documentation review process for approximately 2,800 pharmaceutical suppliers who submitted registration applications was expedited.

The Deputy Minister further stated that all these suppliers would be registered by March 2025, following the qualification review.