ECONOMYNEXT – Sri Lanka could face a scarcity of medicines because the pharmaceutical business is dealing with a problem as a result of regulator failing to permit worth revisions regardless of the rupee fall and amid restrictive worth caps, business stakeholders say.
The Sri Lanka rupee has tumbled with the Central Financial institution’s indicative alternate fee falling 5.6% within the final six months – from 302.6 per US greenback in October 2025 to 319.5 this week.
Sri Lanka is closely depending on medicines imports.
The island nation imported US$ 667 million price medication final 12 months, accounting for about 85% of the full medicinal drug market.
The business regulator, Nationwide Medical Regulatory Authority (NMRA), allowed the final worth revision in July 2023, business stakeholders say.
“As a result of there’s a large alternate enhance, the business is due for a worth enhance,” Shantha Bandara, President of the Sri Lanka Chamber of the Pharmaceutical Business (SLCPI), informed EconomyNext.
“All the opposite merchandise have gone up besides drugs which went down considerably. If that doesn’t occur, we’re unable to put orders.”
The NMRA pointers state that if the alternate fee fluctuates by greater than 5%, rise or fall, the Authority could overview and revise most retail costs (MRPs) of medicine.
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Bandara stated the final revision, a 16% worth lower, was achieved in July 2023 for chosen medication.
The SLCPI and Sri Lanka Pharmaceutical Producers’ Affiliation (SLPMA) raised considerations over delay in upward worth revision, noting that the “market-blind” controls make it inconceivable to maintain operations.
Nalin Kannangara, the president SLPMA acknowledged that the price of medicines has risen by as much as 25% because of alternate fee depreciation and regional instability within the Center East.
“Now, due to this Center East disaster, there generally is a scarcity of end pharma out there,” Kannangara informed EconomyNext.
“Imports now have a number of challenges due to the freight points, insurance coverage and alternate dangers related.”
Although there’s a worth system in place, the alternate fee is the primary element of that, stakeholders say.
Repeated makes an attempt to contact NMRA for feedback failed, because it didn’t reply to calls or emails.
Well being Minister Nalinda Jayatissa, nevertheless, acknowledged the stress as a result of rupee depreciation.
“There’s a 5% [provision]. If there’s a slight enhance within the greenback, a worth enhance have to be granted,” Jayatissa informed EconomyNext.
He stated the federal government could enable a rise within the “ceiling worth” for drug importers and never the retail worth. (Colombo/May5/2026)
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