KUWAIT CITY, Nov 21: The Ministry of Health has reaffirmed its commitment to implement the decisions of the Gulf Committee for pricing of medicines in the Gulf Health Council by striking a balance between the supply of medicines to affordable prices and support for the local pharmaceutical sector. In a press release on Thursday, the ministry said the Drug Price Committee periodically reduces drug prices based on the studies conducted by the Drug Price Department of the Drug Control Sector.

The ministry explained that the main reason for the drop in drug prices is the expiration of patents for innovative drugs, which causes a drop of 30 to 80 percent, depending on the country and the type of drug; while the availability of non-innovative generic drugs and therapeutic alternatives in the local market increases competition and lowers prices. He stressed that the quest to reduce drug prices aims to meet the needs of citizens and expatriates for medicines at reasonable prices, ease the financial burden of patients and reduce the medical costs of visitors to ensure that they obtain the necessary medicines at reasonable prices.

It also revealed that the drug pricing process takes into account several variables, such as spending on clinical trials, research and development, manufacturing, packaging, transportation, storage and to the use of technology in industry. This makes it possible to create flexible pricing models, evaluate market data and improve the supply chain, he adds.

By Marwa Al-Bahrawi
Al-Seyassah/Arab Times Staff