H.E. Dr. Ahmed bin Mohammed al-Saidi, Minister of Health issued a Ministerial Decision No. 144/ 2015 on reduction of profit margin of the drugs in the private sector in the Sultanate effective from January 01st 2016.
Dr. Mohammed bin Hamdan al-Rubai, Director General of Pharmaceutical Affairs & Drug Control, Ministry of Health stressed that the Ministry continues to reviewing the prices of all drugs registered in the Ministry. He also added that this decision comes as a continuation of previous phases reduced the export prices of drugs to the Sultanate through unifying prices of innovative drugs at the GCC countries level and re-pricing the generic drugs at the local level.
In this phase, 4246 drugs registered in the Sultanate have been reduced its prices. The Ministerial Decision stipulates to reduction of profit margin of the drugs in the private sector so that the profit margin will be between 35 – 43 % instead of 55%.
It is worth mentioning that, in the first phase, October 2014, 1400 drugs were reduced. In the second phase, June 2015, 1180 drugs were reduced.