More than 6,000 medicines will become more affordable from today as announced by the UAE Ministry of Health (MOH). ?The majority of reduced medications are for chronic conditions like hypertension (high blood pressure), heart disease and diabetes.
Under the new unified pricing system, prices of 6,610 medicines will be reduced by up to 40 per cent, making the UAE the only country in the GCC with the lowest priced medicines.
The new pricing mechanism fixed the profit margins for distributors and private pharmacies in the UAE, and priced medicine in US dollars to prevent cost increase resulting from fluctuations in the value of foreign currency.
Medicines priced below Dh250 will have a profit margin of 28 per cent, those priced between Dh250-500 a margin of 24 per cent and drugs above Dh500 a margin of 20 per cent. The profit margin for agents has been set at 15 per cent of the Cost, Insurance and Freight (CIF) price.