Health Minister Abiad: Subsidies on local drugs will increase by $4 million per month

BEIRUT — Health Minister Firass Abiad said Tuesday during an event announcing a new drug subsidy plan that the “subsidies on local drugs will increase from $2 million to $6 million per month,” the state-run National News Agency reported.

Here’s what we know:

    • According to the NNA, Abiad said that subsidies on local drugs will stay in place, but that they will be lifted on imported generic versions of these drugs.

    • The local industry will serve more than one purpose. First is [serving] the needs of the Lebanese market and second is [creating] job opportunities for Lebanese citizens,” Abiad said. He also said that local drugs can be a source of dollars “in case their production increases, which would allow them to be exported abroad.”

    • The health minister added that currently, local drug manufacturers are working at 40 percent capacity, “however if these manufacturers worked at full capacity, they will be capable of occupying the Lebanese market… because the goal is to reach full sufficiency for chronic and cancer diseases.”

    • Struggling from its unprecedented economic crisis, Lebanon has gradually lifted subsidies on essential products like food, fuel and medicine. As these products become more expensive, the Lebanese Lira continues to devalue against the US dollar.

    • Yesterday, Parliament passed a bill aimed at supporting local production of medicine in Lebanon.