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FINANCIAL NEWS
UAE plans to reduce medicine prices: MOH
13 Nov 2011
(MENAFN) UAE Ministry of Health (MoH) said that in order to make local and international drug firms in the country sell pharmaceuticals at reasonable prices, the ministry would reduce the prices of over 155 medicines, reported Arabian Business.
The ministry added that it managed to cut the prices of more than 500 medicines during the third quarter, moreover, the move came to make sure that drugs would be available for all residents in the country.
It also said that for the current year, the ministry increased the fund for purchasing medicines around the double from USD40.8 million in 2010 to USD81.6 million.
It is worth noting that starting early July, the ministry began to sell 67 types of medicines at reduced prices, whereas the price decrease of the 498 remaining medicines took effect from early September.
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