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Cheaper pharmaceuticals soon

by Nadira Gunatilleke

The prices of several pharmaceutical products will come down soon in line with a government initiative to import low-cost generic drugs.

Commerce and Consumer Affairs Minister Ravi Karunanayake has announced the launch of parallel imports and generic pharmaceutical products to drop prices. Five generic imports and four parallel imports will be available in the market from Friday (21) at low prices.

This new strategy will save about Rs.7000 million from the total drug imports expenditure of Rs.16.8 billion. Amoxycillin, Cefalexin, Erythromycin, Metformin (used for diabetics) and Atnelol (used for high cholesterol) will be substantially cheaper (by 45 per cent to 83 per cent) under the new scheme.

The four parallel imports, one antibiotic and three drugs used for high cholesterol will be made available in the market around 38 per cent to 41 percent cheaper. All products will be available through STC outlets and CWE pharmacies.

"Consumers will benefit directly. The standard and quality of parallel imports will be equal to other drugs available in the market because both type of drugs are produced by countries such as Britain, Germany, Sweden and Denmark," the Minister said. The drugs available in the market are directly imported from those countries.

The parallel drugs will be imported from India, Pakistan and a few other countries but the drugs are being produced in factories owned by the same countries and located in India and Pakistan.

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