The Ministry of Health of the United Arab Emirates (UAE) will raise prices of some European medicines priced in euro from Oct. 15, local newspaper Khaleej Times reported on Tuesday.
The 5.85 percent increase in the prices of 530 European medicines for chronic diseases such as cancer, diabetes, and hypertension, and an increase of 21.4 percent for 599 European medicines for non-chronic diseases will come into effect on Oct. 15, the report said.
"Each company will receive a list of the drugs that are produced by that specific company, and the complete list will remain confidential with the Ministry of Health," said Amin Al Amiri, head of the Medical Practice and Licensing of the ministry.
The official assured the public that the increase of the prices of these European medicines will not affect all patients as the increase will be applied mainly to branded medicines.
"There are several licensed generic alternatives that are much cheaper than the branded medicines and that have the same efficacy," he said.
The ministry's decision to raise the prices of some European medicines ran counter to market speculation that the recent weakening of euro against U.S. dollar will make the ministry rethink its plan of price increase announced in July.
Source:Xinhua
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