Staff Reporter -
MUSCAT, Feb 26 -
Drug prices in Oman are fixed by the Gulf Pricing Committee after monitoring the rates in over 30 countries with market conditions similar to that of GCC.
The statement followed a complaint by a citizen that the price of a drug he buys in Oman is much higher compared to the rate at which it was sold in foreign countries.
Hilal bin Saud al Yaqoubi, an Omani citizen, told the Ministry of Health via Twitter that he has been buying a drug for RO 15 in Oman, but at the same it is available for just RO 1.5 in some countries.
The ministry added that the reason for the decline in the prices of medicines in some countries is because large pharmaceutical companies have set up factories there because of the population density that brings in more sales volumes.
Apart from government concessions offered for setting up factories, these companies also save costs on shipping, insurance and local transport.
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