(MENAFN- The Peninsula) A major drop in the prices of more than 280 medicines including several most sought-after items like aspirin and panadol is expected to come into force in Qatar from September 22.
Prices are expected to fall by five to more than 60 percent as per instructions issued by the Supreme Council of Health (SCH) recently.
This unprecedented decline is the result of a decision of the GCC countries to unify the prices of about 2,500 medicines in a phased manner. SCH officials had earlier indicated an imminent fall in the prices of several medicines in Qatar, in line with the GCC move.
The Pharmacy and Drug Control Department at SCH has issued a circular to all the pharmacies and wholesale drug distributors informing about the decision. A list of more than 280 medicines showing their old and new prices has also been issued, along with the circular.
The reduced prices will come into force on September 22, says the circular. Prices of medicines in five categories have been reduced in the initial phase - cardiovascular system, endocrine system, gastro-intestinal system, masculoskeletal drugs and skin drugs. Prices for the remaining groups included in the GCC decision will be issued gradually, said the circular.
Several popular medicines would see a price decline of 40 percent to more than 60 percent. For instance, retail prices of aspirin (100mg 30 tablets) will fall from QR10 to QR3.75. A similar packet of 300mg tablets which currently cost QR5 will also be available at QR3.75.
Panadol (Advance 24's) will cost QR5.50 down by QR2 from the existing price of QR7.50. Panadol (Advance 48's) will be priced QR9 against QR14.25 while Panadol Cold plus Flu sachets will cost QR16 against QR18.50. Prices of Panadol baby and infant syrup has been reduced from QR8.25 to QR6.25.
Popular anti-impotency drug Viagra, one of the most expensive medicines is also becoming cheaper. A packet of four 50mg tablets which now cost QR158.25 will be available at QR103. 25 while prices of a 12 tablet packet has been reduced from QR474.25 to QR309.25. Pain relief drug voltaran and hypertension tablet Co-Diovan are among the medicines that are getting cheaper by 30 to 40 percent.
The unified GCC prices could put an end to persistent complaints about the high prices of medicines in Qatar. However, the market is anticipating a temporary shortage of certain medicines at least in the initial phase of the implementation of the new decision.
"All pharmacies are busy clearing their existing stocks, because they will incur heavy losses if they should have to sell the old stocks at the new prices. Everyone is cautious about placing new orders and we have not received any assurances from the distributors to compensate the losses," a retailer told this daily yesterday.
Pharmacies could however offset part of their losses through an expected increase in profit margins from the existing 10 percent to 18/20 percent, with implementation of the new decision. "This means that wholesalers will lose a share of their profit and they may try to compensate this by cutting incentives to retailers," he added.
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