Beginning July 1, prices of 67 medicines out of 8,500 Ministry of Health (MoH)-registered pharmaceutical drugs for chronic diseases and other related products, will be slashed by between five to 60 per cent.
According to a 'Gulf Today' report, another 498 drugs will be made available at reduced prices by September 1.
Ministry of Health said by mid-Ramadan price cutback on 2,000 generic medicines from Europe, the US, UAE and other Arab countries will also be known.
Drugs selected for price cut include those that prevent an ncrease of chronic diseases such as diabetes, cardiovascular and other viral diseases.
Minister of Health Dr Hanif Hassan Ali Al Qassim signed a ministerial decree with MoH-Medical Practices and Licensing Assistant Undersecretary Dr Amin Al Amiri to bring about the price cuts.
The initiative comes after 18 months of negotiations between the ministry and 20 multinational drug firms.