The UAE Ministry of Health has reduced the prices of 115 drugs in the country, in cooperation with pharmaceutical companies.

The department told a press conference yesterday the move represents its commitment to support the partnership strategies between the Ministry of Health and local and international pharmaceutical companies.

Emirates 24/7 quoted Assistant Undersecretary for Medical Practices and Licensing Dr. Amin Hussein Al Amiri as saying: "The Ministry encourages investment in the private health sector through encouraging such strategic partnerships based on trust, communication and transparency."

The ministry hopes the drug price reduction, the second in the UAE, will encourage investment in the health sector through solid partnerships.

In June 2011, it was announced the price 565 drugs, including those made by Pfizer and Merck Sharp & Dohme for the treatment of serious illnesses, would be cut by 20%.

From September, 103 drugs under GlaxoSmithKline were made available at reduced prices for the general public.