DOHA: Prices of about 4,500 registered medicines in Qatar will be reduced by the end of next year, and in the initial phase a major cut in prices of 657 medicines came into effect on Monday, the Supreme Council of Health (SCH) said yesterday.
In the next phase, a similar cut in prices of 652 medicines from 48 manufactures will take effect during the first quarter of next year, a senior SCH official disclosed.
Of the 657 medicines from 52 manufacturers that are now available at reduced prices, about 400 are commonly sold in pharmacies across the country.
The SCH move is based on a GCC decision to unify import prices of medicines in member countries.
The prices of several commonly used medicines for treating diseases like diabetes and hypertension fell by five to 70 percent on Monday, bringing joy to customers who have been complaining of high medicine prices in the country.
“The decision to unify import prices was taken by the GCC Supreme Council to reduce medicine prices in the member countries which remained high. The decision is also intended to prevent movement of medicines between GCC countries,” Dr Saleh Al Merri, assistant secretary general for medical affairs at SCH, said at a press conference yesterday.
Dr Aisha Al Ansari, director of the Pharmacy and Drug Control Department at SCH, said that the reduction will apply to all medicines sold in Qatar in a phased manner.
“Currently 4,500 medicines are registered in Qatar and the plan is to reduce prices of all the medicines by the end of next year. About 1,500 medicines will be available at reduced prices in the first quarter of next year,” she said.
She explained that the new prices had been fixed based on the lowest price in the GCC for each medicine.
“Saudi Arabia has the lowest prices in most cases, being the largest market in the region. However, certain medicines are cheaper in other GCC countries,” she explained.
The reduced prices are not taking effect in all the GCC countries on the same date. Some countries have implemented them earlier, she added.
With the implementation of unified import prices, differences in retail prices between GCC countries will not be more than 10 percent, said Al Ansari. There is also a decision to limit the profit margin for wholesalers and retailers to 45 percent.
Accordingly, the profit margin for retailers and wholesalers in Qatar has been fixed at 25 percent and 15 percent, respectively.
Asked about possible losses to retailers and wholesalers due to the price cut, Al Ansari said they had been given three months to dispose of old stocks.
“We cannot take responsibility for the losses because we had told them well in advance not to place orders for new stocks until the new prices came into effect,” she said.
She ruled out the possibility of a temporary shortage of some medicines that are included in the price cut.
The GCC decision to reduce prices applies to both innovative (branded) and generic medicines. Innovative medicines used for common chronic diseases in the GCC countries include those for heart, endocrine, musculoskeletal and skin disorders, and gastrointestinal medications.
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