Dr Shah: New state pharmaceutical company can launch operations in four months

The State Pharmaceutical and Medical Supplies Company (SPHMC) will require approximately four months to commence operations, according to its Managing Director, Dr Shah Mahir.

Speaking to Sun on Wednesday, Dr Shah said the transition of pharmaceutical operations from the State Trading Organization (STO), which currently oversees medicine imports, will take time.

“We are in the process of registering the company, recruiting staff, and drafting regulations. We’re also working to resolve bottlenecks in pharmaceutical logistics and improve access to available drugs,” he said.

Dr Shah estimated that SPHMC will be operational within three to four months.

Although the transfer of responsibilities is underway, STO will continue importing pharmaceuticals until SPHMC is fully functional. Dr Shah noted that while STO handles a wide range of tasks, it has not prioritized medicine imports adequately. He expressed confidence that SPHMC’s launch will lead to better pricing and faster availability of medicines.

SPHMC was established on September 9 by President Dr Mohamed Muizzu to centralize the import of medicines into the Maldives.

Prior to SPHMC’s formation, the 100% state-owned STO was responsible for bulk imports and sales of medical drugs, consumables, and equipment. STO pharmacies have been set up across all inhabited islands.

Once SPHMC assumes full control of pharmaceutical operations, management of these pharmacies will also be transferred to the new company.