The Drug Regulatory Authority of Pakistan (Drap) has increased the prices of medicines up to 15%, while life savings drugs saw an increase of 9% in their prices.
The notification was released by Drap on Friday after the hike was approved by the federal government of Pakistan.
According to Zahid Saeed who is the chairperson of Pakistan Pharmaceutical Manufacturers Association (PPMA) the drug manufacturing companies demanded an increase of 40% due to the increase in dollars value and devaluation of Pakistani Rupees.
All medicines and drugs prices to be increased from 9-15% across the country. – Drug Regulatory Authority of Pakistan.
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Drug manufacturers threatened to stop drug production if their demands are not met and it seems that after negotiations government and regulatory authority accepted their demand.
Previously Supreme Court of Pakistan took a suo-moto notice during which Chief Justice of Pakistan Mian Saqib Nisar stopped the increase in prices of drugs until pending cases of pharmaceutical companies are resolved.
It is said that medicines are expensive in Pakistan due to the fact that the cost of goods which includes importation cost of raw and packaging materials, direct and indirect manufacturing costs, transportation and port charges & payment of taxes have increased along with the devaluation of Pakistani rupees against dollars.
Another reason has been the pharmaceutical companies which used lobbying and pressure tactics to increase their mark-up.
These increasing prices are having adverse effect on local population from which a huge proportion was already unable to afford medical treatment.