Medicine prices will keep coming down

The government is sticking to its commitment of addressing the prices of medicines in Malta (Pills That Cost Eight Times Less Abroad, Eddy Privitera, October 25). Talks between government and stakeholders, including foreign manufacturers and local importers of medicines, have led to the decrease in prices of almost 100 medicinal products in the past five months alone. These talks, having the primary aim of reducing the prices of more medicinal products, are ongoing.

The new lower prices better reflect the prices of medicines in different European countries. But it is very important to keep in mind that in the European Union, prices of medicines vary from country to country, and sometimes comparing the price with one particular country is not realistic. Indeed prices of particular medicines in some countries including Malta may be higher or cheaper than the prices of the same medicines in other European countries.

In 2007, in order to ensure just and reasonable prices, the government had set up the Working Committee on the Pricing of Medicinal Products (WCPMP). Through an agreement with the local importers of medicines, the government had introduced an effective mechanism by way of which prices of medicines in Malta are compared with the average of the same medicinal products in 12 European countries.

This is helping authorities to establish new lower prices for medicinal products that better reflect the average prices of medicines in Europe. In his letter to The Times, Mr Privitera referred to the price of a packet of Zocor 28 x 20mg pills. In July the price of this particular medicine was reduced by 30 per cent to €24.77.

In spite of the fact that tangible results have been achieved, the government is of the opinion that the reduction in prices of medicines is very much work-in-progress. It will therefore continue to strive to achieve better results and fairer prices that reflect the average prices of the same medicines in Europe.