By Don Asoka Wijewardena
Sri Lanka Chamber of the Pharmaceuticals Industry (SLCPI) yesterday declared that it wouldn’t accept price control under any circumstances. It warned the government of dire consequences in the event of the implementation of a price controlling mechanism.
The warning follows a meeting the SLCPI had with Health Minister Maithripala Sirisena and Trade and Commerce Minister Johnston Fernando on Tuesday (22) in Colombo.
The SLCPI yesterday called a special media briefing at Hotel Taj Samudra to explain its position on the government’s decision to control the prices of pharmaceuticals.
The government alleges that the pharmaceuticals industry is making huge unconscionable profits at the expense of patients.
SLCPI President Vish Govindasamy emphasised that the industry wouldn’t accept government intervention. Countering allegations that the industry was making huge profits at the expense of the Sri Lankans, Govindasamy said that prices of essential pharmaceuticals had been gradually dropping over the years mainly due to healthy competition in the market.
In spite of the removal of price control six years ago, prices had not escalated, Govindasamay said.
The SLCPI warned the government that in the event of price regulations in the local market, reputed suppliers would quit the Sri Lankan market thereby causing a shortage of essential pharmaceuticals. The SLCPI said, "Competition will decrease due to the presence of a fewer number of suppliers in the market and prices will increase, sending the State health care expenditure up."
The Chamber warned that the ultimate loser would be the patient.
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