On Monday, the UAE Ministry of Health launched the 6th initiative of 'Reduction in Medicine Prices', meaning that by January 2016, the country will hold 80 per cent of the GCC's cheapest innovative medications.
Effective from January 1, 2016, 24 pharmaceutical companies will be given a two-week grace period to re-price the selected 142 innovative products.
The reductions in price will range from two per cent to 63 per cent, with more than 30 products (21 per cent) being reduced in price by between 15-20 per cent.
The medications up for re-pricing will cover nine main categories of disease/illness, with the majority - 106 products - used to treat central nervous system disorders. Products used to treat obstetrics, gynaecology and urinary-tract disorders will account for 13 of the 142 total count.
The decision came following an extensive meeting held recently between the Ministry of Health and the heads and directors of global pharmaceutical companies and representatives of local factories and agents accredited to the pharmaceutical companies.
Speaking at the announcement on Monday, Dr Amin Hussein Al Amiri, Assistant Under-Secretary for Public Health Policy and Licensing at MoH said the repricing will have a "positive impact" on the patient.
By Kelly Clarke
