UAE health ministry set to cut prices of 115 medicines

The UAE is to cut the price of more than 115 medicines from Sunday, the Ministry of Health has announced. The ministry will give more details of the price reductions, which will apply to 115 types of drugs at a press conference on Sunday. The move is part of the ministry\'s drive to get local and international drug companies to offer pharmaceuticals in the UAE at reasonable prices. Ministry officials will also announce the approval of a new drug for the treatment of diabetes which will be available in the UAE for the first time. Dr Amin Al Amiri, assistant undersecretary for Medical Practices and Licences said: \"The step comes in implementation of the coordination between the Ministry of Health and drugs companies to ensure the availability of drugs for all UAE residents. \"We also announce the approval of a new medical drug for the first time in the UAE and region after Europe. The announced drug is used for the treatment of diabetes to be used as a syringe once a week,\" he added. In the third quarter of this year, the UAE reduced the prices of more than 500 medicines selling in the country. Sixty-seven types of medicines began to sell at reduced prices from July 1 while the price reduction of the remaining 498 medicines took effect from September 1. In April, the Ministry of Health said it has doubled the fund for purchasing medicines from AED150m last year to 300m for 2011.