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NMRA to seek court approval for pharmaceutical price controls
Sunday Island
|March 30, 2025
National Medicines Regulatory Authority will seek court approval for a price formula for a large number of drugs, Health Minister Nalinda Jayatissa said.
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Some pharmaceutical companies want to contest in the wake of earlier planned price controls, Minister Jayatissa told reporters Wednesday.
"The information will be submitted to court for approval," Minister Jayatissa said.
Sri Lanka started the NMRA in 2015 even as the central bank was injecting money through open market operations to cut rates, claiming inflation was low based on historical 12-month data.
At the time global commodity prices including fuel was also falling following 2014 quantity tightening by the Fed.
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