The Maximum Retail Price (MRP) has been designated for some medication, with work being done for it to be implemented across the entire list, as was said today by the Health Minister Abdulla Nazim Ibrahim.
As per the Health Services Act, an MRP is to be designated for prescribed medication. The government began the effort in the past, with timelines being announced as well.
However, the MRP was not observed due to concerns from pharmacy operators.
During the news conference that was held today by the Health Ministry, Minister Nazim stated that the MRP has been implemented for some medication. However, he also stated that it is still difficult to ascertain when the entire list will have the implementation.
"There are currently a few essential medications that are being sold within the Aasandha system after MRP implementation. Our work on this needs to be expanded upon," said Nazim.
The Maldives Food and Drug Authority (MFDA) publicized a set of guidelines in November 2021 regarding the designation of MRP.
The guideline states after a 100 percent profit is accounted for in the cost price, the first stage of controlling the price of 357 basic medications was to begin in January 2022.
An announcement had been released where the price of the remaining medication was to be controlled from July 2022 onward.
If medication is sold against the guidelines, the MFDA has the authority to fine pharmacies up to MVR 100,000.
