Gazette specifies cheaper medicines from 26 June

The Government has revised the maximum retail price (MRP) for 60 medicines including paracetamol to pass on the benefit of the appreciated rupee against the dollar.

Health Minister Keheliya Rambukwella on Wednesday issued the Extraordinary Gazette to reduce the price of 60 medicines by 16% from 26 June.

As per the gazette notification, a manufacturer or importer who sells any scheduled medicine at an MRP as specified in the schedule to the schedule to the medicines (ceiling on prices) regulations of 2019 and last amended in 2022 shall not sell such medicine over the stipulated MRP. 

A manufacturer or importer who sells any Scheduled Medicine at a revised retail price which is less than the Maximum Retail Price specified in the Schedule to the Medicines (Ceiling on Prices) Regulations of 2019 and last amended in 2022, shall reduce proportionately such revised retail price by a total 16%.

As per the gazette, every trader, distributor, pharmacist, medical practitioner, dentist, veterinary surgeon, medical institution including a private medical institution, pharmacy or person who has the scheduled medicines for sale shall maintain the price of the scheduled medicines at the MRP or revised retail price whichever is less.