Domestic drug market normalizes as medicine imports resume

According to the Myanmar Pharmaceutical and Pharmaceutical Manufacturers Association, the domestic drug market has returned to normal as the import of foreign medicines has been allowed again.
Since July 2023, import licences for medicines were temporarily suspended, leading to shortages of some medicines and rising prices in the domestic market. Starting from March 2024, due to resumption to authorize import licences, medicines will be re-entering the domestic market in the upcoming months.
The Central Bank of Myanmar is selling foreign currency to facilitate the foreign exchange needs of pharmaceutical importers. Currently, people face a shortage of commonly-used drugs for chronic patients, such as painkillers, nerve tonics, and pain relievers. It has been reported that due to higher prices than before, users are buying and using similar medicines at lower prices.
“For eye drops, the price skyrocketed to five times more than before. Some department stores have been out of stock for a long time. Small shops sell their stocks at exorbitant prices if the expiration date is still valid. Moreover, Enervon-C is no longer available for purchase in the domestic market. At a few drug shops, people have to pay a high price for medicines. There are losses for actual users in the medicine market, and action should be taken against such shops,” said Daw Lin Lin from Tamway Township, a consumer of medicine, to GNLM.
Medicines and accessories used locally are mainly imported from many countries such as India and Vietnam. Starting from 17 July, under the directive of the Ministry of Commerce and led by the Myanmar Pharmaceutical and Pharmaceutical Manufacturers Association, pharmaceutical companies are selling drugs directly to the public at the Myanmar Trade Promotion Organization (Yangon Office) at 10 per cent reduced prices.— TWA/TKO