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Sun 28 Aug 2016 02:41 PM

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$72m medicine cost cuts to benefit UAE patients with chronic illnesses

63% reduction in the price of 8,725 pharmaceutical products in the UAE

$72m medicine cost cuts to benefit UAE patients with chronic illnesses

A 63% reduction in the price of medicines will be used to support patients suffering from chronic diseases, said the UAE Ministry of Health.

Cost cuts worth AED267 million ($73m) on 8,725 pharmaceutical products have been made since the initiative was launch in July 2011, reported state news agency WAM.

Prices of 657 products are set to be reduced in September, while cuts on 105 additional products was set to take effect in January 2017, according to Dr Amin Hussein Al Amiri, Assistant Undersecretary of the UAE Ministry of Health.

“'Slashes in prices of medicines included in the seventh initiative will range from two to 63 percent,” said Dr Al Amiri, who is also Vice Chairman of Drugs Pricing and Registration Committee. “Since the first initiative was launch in July 2011, prices of 8,725 pharmaceutical products have been cut.”

The initiative has been launched in partnership with 39 UAE pharmaceuticals companies.

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