P. Spiteri

How will the mechanism on medicine prices work? When can be expect lower prices?

Reply -

The government felt the need to improve the present voluntary mechanism for the prices of medicines as it did not have the results that we all had hoped for. A more efficient and effective mechanism on the prices of medicine will be introduced. While the price surveys will still be carried out on the principles agreed upon during the establishment of this committee, the mechanism will change into a mandatory one unless an alternative system is introduced.

The improved mechanism is planned to produce more transparent and accountable system that will eventually result into a more correct pricing of medicines. From their part the suppliers of medicines will be benefitting from a budget vote of €64 million so that the credit period for payment in medicines will be reduced to 12 weeks.

Send your questions through this section or budget@timesofmalta.com

Replies will be given by the Ministry of Finance.

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