Islandwide Probe into Drug Price Compliance to be Launched

COLOMBO (News 1st): The National Medicines Regulatory Authority (NMRA) has announced that an islandwide investigation will be launched to investigate whether pharmacies are selling medicines at the government-fixed maximum retail prices.

Chairman of the NMRA, Dr. Ananda Wijewickrama, stated that maximum retail prices have now been set for nearly 500 varieties of medicines.

The new pricing formula was approved recently in Parliament.

According to Dr. Wijewickrama, the new formula has led to significant price reductions in certain medicines, and the ongoing investigations aim to determine whether the public is truly benefiting from these reductions.

He further noted that legal action will be taken against pharmacies found selling medicines above the approved maximum retail prices.