UAE- Price of 8000 drugs reduced over 5 years says ministry
Date
2/25/2016 3:36:39 AM
Nearly 8000 drugs have been made available cheaper over five years through six initiatives the Ministry of Health and Prevention announced.
The ministry said that it has reached 80 per cent of its target to reduce the prices of innovative drugs and it aims to achieve 100 per cent of its target by mid-2016. The optional slashing of drug prices by global drug makers have pushed prices of pharmaceutical products in the UAE to the lowest rate in the Gulf or equivalent at least.
Price reduction through the initiatives between June 2011 and January 2016 ranged from one to 60 per cent. Dr. Amin Hussein Al Amiri Assistant Under-Secretary for Public Health and Licensing and Vice Chairman of the Drug Pricing and Registration Higher Committee said that government institutions were making strenuous efforts to develop the local health sector.
The ministry he said was encouraging global pharmaceutical companies to produce medicines in the UAE in collaboration with local manufacturing facilities. "Producing innovative drugs locally will serve the patient's interest
and well-being by allowing them to obtain drugs at affordable prices" he said.
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