Pharmacies' profits set to be capped - Gulf Daily News

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Gulf Daily News
Thursday, 14th March 2013 3
Medicine prices set to fall as pharmacies’ profits capped
PHARMACIES have been accused of
fleecing customers by charging “exorbitant”
prices for medicines in Bahrain.
In some cases people are forced to pay
double the costs charged in other countries
and have to buy them abroad, according to
campaigners.
However, customers could soon pay
“significantly less” for medication when
new regulations capping the profits of
By Mandeep Singh
pharmacies at 35 per cent come into effect.
It is being implemented as part of a
GCC-wide procurement policy.
“There has been a decision to put a cap
on profit margins charged by pharmacies
to between 25 and 35pc, depending on the
kind of medication,” said National Health
Regulatory Authority (NHRA) chief exec-
utive officer Dr Baha Eldin Fathea.
“The profit margins earlier were as high
as 50pc in some cases.
The GCC policy should prevent vast
differences in the cost of medicines being
sold in the region.
Sources said prices were much less now
in some of Bahrain’s neighbours, prompting
people to get their supplies from across
the border.
Bahrain Sickle Cell Society chairman
Zakreya Al Kadhem welcomed the new
regulations.
“They will help the thousands of sick
people who have so far had to pay exorbitant
amounts to procure painkillers, among
other drugs,” he said. “We feel we have
been fleeced and cheated all these years so
we welcome the new decision.”
The campaigner said customers had
been paying too much for many years
and therefore made regular trips to Saudi
Arabia and even as far as Thailand to get
medicines at half the price.
Pharmacies Owners and Importers
Society Bahrain president Dr Fadhel Al
Arrayed pledged to comment later, but
earlier denied medicines in Bahrain were
overpriced.
mandeep@gdn.com.bh
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