On Wednesday, the Pakistan Drug Regulatory Authority (DRAP) raised the prices of 94 medicinal items, including those used for fever, headache, heart disease, malaria, diabetes, sore throat and flu.
The regulatory body has also released a notice in this regard. In September, in order to put an end to the persistent shortage of these medicines on the market, the federal government agreed to authorize pharmaceutical firms to raise the prices of 94 lifesaving drugs.
Special Assistant to Prime Minister on National Health Services Dr. Faisal Sultan said, “To address long-term shortage of some key or lifesaving medicines, the federal cabinet has allowed rationalizing prices of drugs that had been reported to be in short supply due to unrealistically low prices.”
Sixty-eight of these drugs are indigenous and 26 are imported. For the aforementioned factors, the price rise was reportedly inevitable. However, it is said that until June 2021, pharmaceutical firms will not be able to increase prices any more. In spite of the recent price increase of about 94 lifesaving drugs, which has prompted criticism from the current leadership, Pakistan’s pharmaceutical industry is unhappy with government support.
Industry stakeholders claim that, with regard to some regulations, research and technology improvements in the industry, there are several loopholes. The stakeholders urged the government to fix the problems plaguing the war-based industry and to take steps to improve the industry that could, in turn, help the national economy in a much better way.