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(Medical-NewsWire.com, February 20, 2013 ) San Francisco, CA -- The United Arab Emirates had adopted a new regulation cluster that will assist in the cutting of prices for more than 6,600 types of imported medicines by as much as 40%, according to a WAM report.
In a meeting in Abu Dhabi that was chaired by the Prime Minister Sheikh Mohammed bin Rashid al-Maktoum, the cabinet instructed the Health Ministry to issue a new list for price of medicines. The cabinet gave the pharmacies three months to adjust prices, according to WAM.
"The new system will cut prices of 6,619 types of medicines by between one percent and 40%," the news agency said.
This new system will feature unifying of medicine prices with other states in the Gulf Cooperation Council, which has six state-members within it. The system will provide alternative drugs for every type of medicine, including those medicines that are prescribed for chronic diseases, as well as other types of illnesses.
A boom is expected for the healthcare business in the gulf due to rising wealth and an increase of so-called lifestyle diseases. Five of the six state members of the GCC are global top-10s for the prevalence of diabetes, according to the international Diabetes Federation.
There are an estimated 827,000 adult individuals with diabetes in the UAE, according to the ministry of health.
The treatment for diabetes is said to make up 40% of the UAE's overall healthcare expenditures, according to Amin al Amiri, who is assistant undersecretary for Medical practice & license at the ministry of health.
Inflation in the EUA is expected to remain unaffected by the medication maneuver. The second-largest Arab economy's health costs account for merely 1% of the overall economy.
The annual inflation of the nation sits at 0.7% for 2012, and is the lowest since 1990, which was the year of the first Iraqi invasion of Kuwait and start of the subsequent Gulf War.
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Source: EmailWire.Com 
Source: EmailWire.com
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