State Buying Agency
Accordingly, in 1971 the State Pharmaceuticals Corporation of Sri Lanka (SPC) was established with Bibile as Chairman. The SPC channelled all imports and production of pharmaceuticals, calling for worldwide bulk tenders which were limited to the approved drugs listed in the CHF. The public and private health sectors had to obtain all their requirements from the SPC.
Hence the stranglehold of the Multinational corporations on the drug trade was successfully broken and they were made to compete with each other and with generic drug producers, enabling the country to obtain drugs much cheaper. Branded drugs were replaced by generic drugs in the prescription and sale of medicines.
In 1972 it imported 52 drugs at a third of their previous prices. In 1973, the SPC itself bought the raw material necessary for 14 private processing laboratories established in the island. Some drug prices dropped by half or two-thirds. The SPC bought from an Indian company the raw material necessary for a widely used tranquilliser at a much lower price than that charged by a Swiss multinational.
Read more about this topic: Sri Lanka National Pharmaceuticals Policy
Famous quotes containing the words state, buying and/or agency:
“Lead bullets flattened by human teeth have been found on the camp site. Soldiers who had been caught stealing food from nearby farms customarily chewed on a bullet as the lash was laid on their bare backs.”
—For the State of New Jersey, U.S. public relief program (1935-1943)
“Marrying an old bachelor is like buying second-hand furniture.”
—Helen Rowland (1875–1950)
“It is possible that the telephone has been responsible for more business inefficiency than any other agency except laudanum.... In the old days when you wanted to get in touch with a man you wrote a note, sprinkled it with sand, and gave it to a man on horseback. It probably was delivered within half an hour, depending on how big a lunch the horse had had. But in these busy days of rush-rush-rush, it is sometimes a week before you can catch your man on the telephone.”
—Robert Benchley (1889–1945)