Medicine prices will be increased by 9-15 percent, as per the statement issued by the Drug and Regulation Authority of Pakistan.
Revised maximum prices will be effective soon and labels of medicines will reflect the change according to the notification.
Notably, the regulatory authority has caved into the demands of the drug companies, which have been threatening to stop the production of drugs otherwise.
The notification states that:
- The increase in the maximum retail prices of the drugs may be brought under 12(8) of Drug Pricing Policy, 2018, namely:
- Nine percent over and above the maximum retail prices determined as determined under the hardship category during the year 2018; and
- Fifteen percent over and above existing maximum retail prices determined under the Drug Pricing Policy, 2018 for drugs other than those specified in clause (a).
- The revised maximum retail prices shall be printed on the label, as per the Drugs [Labelling and Packaging] Rules, 1986 and the importers and manufacturers of drugs shall furnish calculations of revised prices to the Division of Costing and Pricing of the DRAP before the increase is put into place.
It is pertinent to mention here that the Supreme Court had stopped DRAP in November from increasing the drug prices till the appointment of the CEO of the authority.