Cheaper medicine prices when old stocks run out, GRTU notes

Pharmacies have been directed not to sell any medicines at the new reduced prices, agreed between the government and importers, until their old stocks ran out.

"Pharmacy owners are directed to tell patients who demand to purchase medicine at the new prices that they can do so when current stocks are exhausted," the Malta Chamber of Small and Medium Enterprises - GRTU, said.

The GRTU said it would hold an extraordinary general meeting in the coming weeks to discuss the issue "and take any action" it deemed necessary.

The meeting would also address concerns expressed by members about the long-term effect on viability and profitability of any further reductions in medicine prices.

Following negotiations between the government and medicine importers, the government last week announced reductions of between six and 50 per cent on the prices of 62 medicines.

Parliamentary Secretary Chris Said announced that some of the reductions would come into force immediately while the price of others would be reduced when current stocks were sold out.

Reacting to the GRTU directive, a spokesman for the Secretariat for Consumers and Fair Competition said the government had always referred to new stocks of pharmaceutical products when it referred to prices. He said that, as from July 1, any new stocks were to be sold at the new price.

Complaints about the exorbitant price of some prescription drugs have been made for years. A study by the government showed that the 2008 price of about three quarters of the medicines analysed were above the EU average. The government promised to take effective action in this year's Budget, even by introducing a voluntary price reduction mechanism. The turning point came when Dr Said warned that the government would intervene and import medicines directly unless prices were lowered.