Maldives Allows 15% Profit on Key Medicines

The Sri Lankan government has announced new concessions for drug importers, allowing 77 essential price-controlled medicines to be sold at a 15% profit. The move aims to improve drug availability and address recent shortages across the country.

President Mohammed Muizzu said the decision comes in response to concerns over importers halting the supply of certain medicines, allegedly to pressure the government. He stated that the government had previously reduced medicine prices to prevent inflated profits of up to 2,000 percent.
Some importers, he claimed, deliberately stopped bringing in specific drugs, leading to delays and low stocks. The State Trading Organisation Corporation (STOC) was not able to meet demand in time.
According to the President, all but 10 of the most essential medicines have now been distributed to STOC pharmacies. Out of the 1,207 approved drugs, 784 have already been delivered, and 308 are on order. STOC is currently seeking suppliers for the remaining 115 items.

The government hopes this revised pricing strategy will encourage importers to resume supply and ensure essential medicines are more readily available to the public.