Introduction
The sultanate of Oman has enacted a new pharmacy law to regulate the pharmacy practices in Oman in March, 2015. The royal decree 35 of 2015 promulgates the “Pharmacy Law” repealing royal decree 41 of 1996 making significant amendments regarding foreign investments in Pharmacy sections. This article aims to highlight major provision of new Pharmacy law in Oman.
Key Issues
- As per the provision made by Article 11 mandates all pharmacies to have at least one of its partner to be an Omani national pharmacist. All the existing pharmacies will now have to look out for an Omani pharmacist to join their board to comply with this regulation and the application for new pharmacies should comply with this for getting the license.
- As per another provision the medicines can now be dispensed by the individuals holding prescribed educational qualification from a recognized university and licensed to act as a pharmacist by the competent authority. The pharmacist license will be granted for a maximum period of two years and can be renewed after that.
- The new law also provides for limiting the number of pharmacies an individual may open and the number of branches any brand pharmacy can open and hold ownership rights. It will help to increase fair competition and better pricing structures for the consumers.
- The new law reduces the duration for which a license can be issued from five years to two years.
- New law also prohibits sharing profits between pharmacist and physician from prescription medicines charges. This is a welcome move as it will help in providing cost effective medicines to the citizens and the money-making cartels will be abolished.
Conclusion
The new law will help to curtain monopoly and create more opportunities for Omani nationals, but at the same time, it may face criticism for the reluctance of foreign investors for investment in pharmacy industry of Oman. Article 11 of the law states that it aims to protect Omani nationals from unscrupulous competition in the industry and protect their rights in business and employment opportunities in pharmaceutical sector. The results of this new law will show their colors in their own time.
