New Pricing Regulation Applicable To 5,179 Kinds Of Medicines
KUWAIT CITY, April 11
The Ministry of Health will soon start inspecting local pharmacies to ensure strict compliance with the new pricing regulation which covers 7,116 types of medicines, cosmetics and food supplements, reports Al-Anba daily quoting Medicine Inspection Department Director Dr Jaber Al- Khaldi. Al-Khaldi revealed the new pricing regulation is applicable to 5,179 kinds of medicines, as well as 1,937 cosmetic products and food supplements. He said anyone who will be proven to have violated the regulation will face harsh penalties like six months in jail and KD2,000 fine. He added the penalties are stipulated in Article 15 of Pharmaceutical Law number 28/1996.
According to Al-Khaldi, the regulation stipulates 45 percent profit from imported medicines, cosmetics and food supplements; over and above the importation cost. He said the local distributors and pharmacies will share the profit margin equally because the importation cost includes the expenses of both parties. He added the decision was taken by the GCC Council of Health Ministers and it has been published in the official gazette; while copies of which have been distributed to all local pharmacies for implementation
© Arab Times 2013
