STO Pharmacies to Come Under State Pharmaceutical Company

The pharmacies operated by the State Trading Organization will be transferred under the government’s medicine supply company, State Pharmaceutical and Medical Supply Corporation Limited.

STO told state media that work on the transfer has already begun and is being implemented in phases. The process is expected to be completed by the 15th of next month, with more than 190 STO pharmacies scheduled to come under the new company.

The State Pharmaceutical and Medical Supply Corporation Limited was established on 9 September last year as a fully state-owned enterprise, with 100 percent of its shares held by the Government of Maldives. The company was formed under powers granted by Article 15 of the Companies Act.

The corporation has been mandated to expand the bulk procurement and importation of pharmaceuticals, medical consumables, and medical equipment, while also managing the nationwide distribution of these items.

The transfer of pharmacies forms part of wider efforts to address longstanding challenges related to access to medicines. Authorities have indicated that improvements to supply chains are underway, alongside plans to expand both the Maldives’ Approved Drug List and the list of essential medicines.

As part of measures to strengthen supply, the range of medicines imported into the Maldives has increased significantly, according to the government. STO’s imports, which previously covered around 200 medicines, have now expanded to between 800 and 900 items.