9 pc hike for life-saving drugs approved
The Drug Regulatory Authority of Pakistan (DRAP) on Friday approved an increase in prices of medicines upto 15 per cent and life-saving drugs by none per cent across the country on Friday, syays a statement issued by the authority.
According to the DRAP notification, the decision to increase the prices of drugs has been approved by the federal government.
The notification says, “Maximum retail prices of drugs may be increased under paragraph 12 (8) of the Drug Pricing Policy, 2018. Nine per cent over and above the maximum retail prices as determined under hardship category during the year 2018, and 15 per cent over and above the existing maximum retail prices determined under the Drug Pricing Policy, 2018 for drugs other than those specified in Clause (a).”
DRAP has directed for the revised prices to be printed on labels in the manner prescribed under the Drugs (Labeling and Packaging) Rules, 1986.
“The manufacturers and importers of drugs shall furnish calculations of revised maximum retail prices of drugs to the Division of Costing and Pricing of DRAP before implementing the increase,” the notification said
The Pakistan Pharmaceutical Manufacturers Association Chairperson Zahid Saeed, in reaction to the price hike, has said that the drug manufacturing companies have been demanding 40pc increase in the prices of medicines.
He said that the increase was inevitable because of the increase in dollar’s value, adding that PPMA was reviewing the contents of the notification.