Price of some medicines 'to fall by end summer'

The price of a number of medicines sold on the local market should go down by the end of summer, the chairman of the Working Committee on the Pricing of Medicinal Products has told The Times.

Marcel Pizzuto said an exercise to compare local prices with the average in the EU was in its final stages. It had been found that, while a number of products were selling at prices below the average, others were more expensive.

The next step will be to ask importers of the products priced above the EU average to provide justification. If the price is not justified it will have to be reduced to come in line with the average.

Mr Pizzuto, who is the permanent secretary within the Competitiveness Ministry, pointed out that the smallness of the local market might have an effect on the price of medicines, especially when it came to those with a short shelf life.

Asked how many medicines have been found to be selling above the average EU price, Mr Pizzuto said it was still early to say since not all available pharmaceuticals had been analysed.

But he expressed confidence that the prices of some products would drop in the next few months.

The committee was set up last November with the task of finding a system to ensure medicine prices are fair and just, without resorting to the old price control system.

Mr Pizzuto expressed hope that an impasse within the committee - which is made up of government, business and consumer representatives - would be resolved in the coming days so that its work would get back on track. He would not reveal the reason for the deadlock, saying only that it was not related to what was being discussed, but to other issues.

Last week Health Minister Louis Deguara said in Parliament that the government was committed to ensuring that consumer prices for medicines were fair and just even without agreement with the stakeholders.

Mr Pizzuto reiterated that this work would continue, preferably with the full contribution of stakeholders in the committee.

"We believe that this system is the best to ensure that prices are fair and just," Mr Pizzuto said, adding that if necessary other options would be considered in order to reach the government's objective.