The Government of Maldives has announced its decision to implement measures next month as part of the first phase of an initiative aimed at controlling medicine prices, fulfilling a pledge made by President Dr. Mohamed Muizzu. The National Social Protection Agency (NSPA) has stated that it will control the prices of 250 medicines during this initial phase.
The government has recognized that expenditures on pharmaceuticals constitute one of the largest and most wasteful costs within the healthcare system. The national insurance system, managed by Aasandha Company Limited, reports that over half of its expenses are related to the importation of medicines, a figure that continues to rise annually.
In response to this issue, President Dr. Muizzu has mandated measures to prevent the sale of imported medicines at exorbitant profits. He has instructed all relevant authorities to implement necessary actions to curb such profiteering in the pharmaceutical sector.
According to a publication issued by the NSPA, the government plans to adjust the prices of 87 medicines effective November 1, with changes for an additional 126 medicines to take effect on November 24. This initiative is projected to save the government approximately USD 14.3 million annually. Importantly, these changes will not affect the Aasandha system, which provides medicines to patients at no cost.
Furthermore, the NSPA has indicated that the price adjustments will lower the costs of previously overpriced medicines. A comprehensive list of the updated medicine prices will be available on Aasandha's website from the effective date of the changes. The agency encourages all individuals to obtain a receipt when accessing services from Aasandha and to report any instances of medicines listed in the official price list being sold illegally.