Rising global costs and currency pressure are forcing Sri Lanka to reconsider drug price controls, sparking concern over affordability and potential shortages that could impact public health nationwide.
The government’s focus has shifted toward a possible increase in medicine prices, as authorities review existing price controls in response to rising global pharmaceutical costs and the continued depreciation of the Sri Lankan rupee.
The Chairman of the National Medicines Regulatory Authority stated that attention is now being given to revising the prices of selected medicines, taking into account the growing challenges faced by pharmaceutical importers operating under current pricing limits.
Industry representatives, including the Sri Lanka Chamber of Pharmaceutical Industry, have highlighted that import costs for medicines have escalated sharply due to global economic pressures and energy price increases affecting supply chains.
According to industry data, fuel costs have risen by approximately 38 percent, while international shipping freight charges have increased by over 40 percent. In addition, the cost of certain pharmaceutical raw materials has surged by as much as 70 percent in global markets.
The Chairman of the Chamber of Pharmaceutical Industry warned that failure to implement a timely price revision could lead to a severe shortage of essential medicines across the country.
He stressed that the issue has moved beyond being an industry concern and has become a national public health challenge, directly affecting the availability of life saving drugs and treatments for the population.
He further cautioned that without immediate intervention, the medicine shortage could escalate into a critical and uncontrollable situation, placing additional strain on Sri Lanka’s healthcare system.
While acknowledging that global market conditions are beyond local control, the National Medicines Regulatory Authority assured that it will take all necessary steps to prevent a medicine shortage within the country.
The Authority emphasized that measures are already being implemented to support timely imports by providing facilities and regulatory assistance to pharmaceutical suppliers, while also evaluating a balanced and fair medicine price revision.
