Thursday, March 30, 2023

Govt Sets Ceiling Price For Private Sales Of Covid-19 Vaccines

NewsGovt Sets Ceiling Price For Private Sales Of Covid-19 Vaccines

The government has announced a ceiling price for private sales of 2 Covid-19 vaccines made in China, namely Sinovac and Sinopharm.

The wholesale ceiling price of the vaccine from Sinovac is RM62 and RM77 for customers, while the wholesale ceiling price for the Sinopharm vaccine is RM48 and RM61 for customers.

In a statement on Thursday (13 Jan), Health Minister Khairy Jamaluddin and Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi said the ministries have noticed the high and varying prices of vaccines in the private market.

The ceiling price will come into effect on 15 January under the Price Control and Anti-Profiteering Act 2011 and enforced by the Health Ministry’s Pharmaceutical Enforcement Division.

Meanwhile, the ceiling price does not include the service charge or charges on disposal items incurred during the administration of the vaccines, such as syringes.

The ministers also stressed that all facilities selling vaccines are required to clearly display their sale prices so that consumers can make an informed decision about their purchase.

Source: Global Times

Individuals who are found selling vaccines above the ceiling price will face a fine of up to RM100,000 or imprisonment not exceeding 3 years, or both, along with compound notices of up to RM50,000 if found guilty, under the Price Control and Anti-Profiteering Act 2011.

Companies found guilty face a penalty of up to RM500,000 or issued a compound notice of up to RM250,000.

Both Khairy and Nanta also explained that the ceiling price was implemented based on the price of importing the vaccines along with their current market values.

“The prices of Covid-19 vaccines will be continuously studied and improved or altered based on the market and current demands.”

“It is also compulsory for private health facilities who have obtained approval from the government to offer private purchase vaccination services to display their prices.”

“This will allow the public to perform price comparisons and obtain the vaccines at affordable prices,” they said.

The public may also channel complaints on companies or individuals who are found breaking the law through the Public Complaints Management System (SISPAA) of the Health Ministry at moh.spab.gov.my.


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