State Pharmaceutical and Medical Supply Corporation established

President Dr Mohamed Muizzu has today formed a separate company to handle procurement and business of pharmaceuticals in the country. 

The President's Office announced today that the President has formed the State Pharmaceutical and Medical Supply Corporation Ltd under Article 15 of the Companies Act. 

The company will be bringing in medicine, medical consumables and medical equipment in bulk, and will be responsible for supplying it across the regions, the President's Office said. 

The company is a 100 percent government shareholding company. 

These responsibilities have so far been borne by the State Trading Organization (STO).