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As NMRA takes shape, drug companies go for the kill again | The Sunday Times Sri Lanka

As NMRA takes shape, drug companies go for the kill again | The Sunday Times Sri Lanka: As nominations are finalised for the appointment of the National Medicine Regulatory Authority to regulate the pricing and prescription of medicines in Sri Lanka, multinational companies are pushing the Consumer Affairs Authority to bring back a price formula which was withdrawn two years ago.

It is learnt that drug company lawyers have had talks with the CAA to have a margin of 89 per cent on the medicinal drugs as agreed in 2013.�Shiraz Noordeen, chairman of the Consumer Affairs Council (CAC) — the principal body which hears and determines applications for price revisions in terms of the Consumer Affairs Authority Act of 2003 – said former CAC Chairman Upali Kodikara had in 2013 decided on a pricing formula which added 52 per cent to the CIF value of medicinal drugs. He had taken into consideration transport, overhead costs and profits. However, following complaints from companies that the drugs were underpriced, the CAC after discussion with stakeholders, including pharmaceutical companies and patient rights groups, had decided on a pricing formula on the basis of the CIF value plus 89 per cent.
As NMRA takes shape, drug companies go for the kill again | The Sunday Times Sri LankaSocialTwist Tell-a-Friend

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