Government Caps Prices on 500 Medicines to Protect Patients

COLOMBO (News 1st); The National Medicines Regulatory Authority (NMRA) has announced that maximum retail prices have now been imposed on approximately 500 varieties of medicines.

Chairman of the NMRA, Consultant Dr. Ananda Wijewickrama, stated that the new pricing formula—officially approved in Parliament yesterday—now provides legal backing to regulate medicine prices across the country.

The decision comes in response to reports that certain pharmaceutical importers had been selling essential medicines at inflated prices, placing a heavy financial burden on patients.

Under the new framework, all registered and newly registered medicines in Sri Lanka will be subject to both a maximum retail price and a capped price range.

Dr. Wijewickrama emphasized that the revised pricing formula is expected to significantly reduce the cost of medicines, offering much-needed relief to the public.