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Rabat – The Moroccan Ministry of Health and Social Protection recently issued a new decree regulating drug pricing across the country, reducing the price of over 100 medications.
Numbered 1447.24 and dated May 29, 2024, the decree supersedes and supplements previous regulations pertaining to lowering taxes on medication in a bid to preserve the purchasing power of Moroccan citizens.
Under the new decree, which comes into effect immediately, the Ministry has revised the pricing structure for original, generic, and bioequivalent essential drugs available in Morocco.
This revision follows a thorough review of pricing policies outlined in Decree No. 2.13.852, focusing on locally manufactured and imported medications.
Key provisions of the decree include the establishment of selling prices for original drugs as well as the approval of prices for generic alternatives.
Minister of Health and Social Protection, Khalid Ait Taleb, emphasized that the decree aims to enhance transparency and affordability in the pharmaceutical sector, ensuring that vital medications remain accessible to all segments of the population.
The decision follows consultations with a joint committee of ministries responsible for pricing oversight.
Since the outbreak of the COVID-19 pandemic, Morocco has actively worked to improve its healthcare infrastructure and reduce the financial burden related to healthcare services.
Under the new 2024 budget bill, the Moroccan government has proposed to generalize the exemption from the Value Added Tax (VAT) to cover a wide range of essential consumer goods.
The tax exemption would include all medicines and their sub-components, as well as single-use packaging.
Insurance companies are also poised to benefit from a tax cut as the VAT rate on services provided to insurance companies by brokers or insurance agents would similarly fall from 14% to 12% starting January 1, 2024.
Read Also: Ministry of Health Decreases Prices for 24 Drugs in Morocco
