Sri Lanka to seek court order for pharmaceutical price controls
- CNL Reporter
- March 27, 2025
- News
- Sri Lanka to seek court order for pharmaceutical price controls
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Sri Lanka’s National Medicine Regulatory Authority will seek court approval for a price formula for a large number of drugs, Health Minister Nalinda Jayatissa said.
Some pharmaceutical companies went to court in the wake of earlier planned price controls, Minister Jayatissa told reporters Wednesday.“The information will be submitted to court for approval,” Minister Jayatissa said.
Sri Lanka started the NMRA in 2015 even as the central bank was injecting money through open market operations to cut rates, claiming inflation was low based on historical 12-month data.At the time global commodity prices including fuel was also falling following 2014 quantity tightening by the Fed.
Analysts warned at the time that Sri Lanka’s parliament should take action against the discretionary power of the central bank to print money for flexible inflation targeting rather than resort to more price controls.
