If the momentum in having cheaper medicines was not kept up, the government was ready to fix prices of products selling above the European average and make them mandatory by law.

Parliamentary Secretary Chris Said told Parliament yesterday the government did not believe in price controls but it was ready to do what was announced in last year’s Budget and take alternative measures. These would include making the present voluntary price-fixing mechanism mandatory, meaning medicines would have to be sold at the price set by a committee representing all stakeholders. The committee was established by the government to ensure the prices of medicines were “just and reasonable”.

The committee had agreed that just and reasonable prices were those which did not go above the European average. It held regular meetings with the importers to ensure the lower prices were reflected in the market.

Dr Said explained that, since July, the price of 99 brands of medicines had gone down by between two and 76 per cent, for an average of 18 per cent. These brands were reflected in two lists made public recently and the government was in the process of publishing another one shortly.

The results were encouraging but the government was not at all satisfied because there was a number of other medicines it felt could be sold cheaper. Work would continue unabated to see that more prices were slashed as a result of the cooperation shown by a number of importers and stake holders.

He said medicines were not something people took capriciously but out of necessity. In the interests of consumers and patients, the government was prepared to do everything to ensure cheaper and just prices.

To-date, Dr Said noted, the government had found cooperation from all stakeholders. But this was not enough and more results were needed and it would do everything to move ahead through agreement. The government would like to continue using the present mechanism to lower prices found to be above the European average, he concluded.