The MOH Health Directorate consultant Dr. Rdha M. Khalil said the decision of bringing down drug prices, which came into effect as of Feb 1st, 2008, had been the result of MOH efforts to provide the best therapeutic services to both citizens and residents.
"Drug pricing is a regular yearly process", he said. "MOH has noticed a state of instability in drug prices during the past year due to fluctuating exchange rates of foreign currencies in contrast to Saudi Riyal".
He said importers' profits had not been affected by the decision, confirming that the profit dues of the importer, the distributor, and the pharmacy are protected by law.
"According to the decision, the export rates of all drug items have been adjusted to Saudi Riyals and rates of items developed prior to five years have been brought down by 1% for each year", he said. "By implementing the decision, MOH has been able to lower or fix the rates of 60% of the drug items registered in the Kingdom, in addition to fixing export rates by Saudi Riyals". It is expected that such controls will confirm constant rates and assist in avoiding fluctuations in exchange rates.
He said MOH will spare no effort in applying restrictive measures on any breach, including fines, closing, etc.