In the spirit of competition, a subsidiary under the State Trading Corporation will commence parallel imports of popular medication – an attempt by the Commerce and Consumer Affairs Ministry to lower the cost of drugs.
The STC Medical Ltd., already incorporated, will commence operations later this year, STC senior officials say.rn
rnMinistry officials hope the exercise would introduce competition to the State Pharmaceutical Company and the private drug suppliers.rn
rnThe Ministry also plans to lax price controls on imported medication for six months trial period, to allow for market pricing.rn
rnThis exercise too is expected to reduce prices of drugs supplied by rival brands.rn