(MENAFN- Jordan Times) The prices of 275 locally and internationally manufactured medicines sold in the market have been reduced, a Jordan Food and Drug Administration (JFDA) official said on Saturday.
JFDA Director General Hayel Obeidat said these drugs include pain killers and medication for chronic diseases and cancer.
"We revisit prices of registered medicines after the end of the protection period," Obeidat added, explaining that the protection or exclusivity period for drugs is between two to five years.
"When the protection period is over, we revisit the price of a drug based on its country of origin, and the prices of competing brands," he told The Jordan Times over the phone on Saturday.
According to the US Food and Drug Administration, exclusivity provides the holder of an approved drug application limited protection from new competition in the marketplace for the innovation represented by its approved drug product.
"Any company or drugstore that violates the decision and refuses to reduce prices as soon as the JFDA's decision is announced, pays a fine," Obeidat said, noting that more than JD1 million was collected this month from companies that refused to implement the reduction immediately.
He added that the JFDA is also studying a reduction on the prices of another 25 drugs.
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