Prices of drugs that save lives went up by 14%
The Drug Regulatory Authority of Pakistan (DRAP) announced on Friday that the prices of many drugs, including some that save lives, will go up by 14% to 20%. This was approved last month by the Economic Advisory Committee of the Cabinet.
The notice, which was signed by the national health services ministry’s deputy head of legal affairs, said that the prices of medicines that save lives went up by 14%.
All other medicines had their prices raised by 20%.
“It [the increase] shall be considered as annual increase under the said policy for financial year 2023-24, and no increase under this category shall be granted in the next financial year,” the notification said.
It also said that the price hike was passed on April 14 by the Economic Advisory Committee of the Cabinet.
The notice said that the DRAP’s policy board would look at the prices after three months, which would be in July, and suggest to the federal government that rates be lowered if the value of the local currency went up.
“As a one-time dispensation, allowing manufacturers and importers to increase their existing MRPs of essential drugs and biologicals (excluding lower priced) equal to 70% increase in CPI (with a cap of 14%) and NfRPs of all other drugs and biologicals and lower priced drugs up to increase in CPI (with a cap of 20%) on the basis of average CPI for current year i.e. the 1st day of July, 2022 to the 1st day of
It also said that cases of difficulty that had been suggested by the Drug Pricing Committee and were being sent to the federal government for approval would be looked at for possible changes.
“The revised maximum retail prices shall be printed on the label in accordance with the Drugs (Labeling and Packing) Rules, 1986, and manufacturers and importers of drugs and biologicals shall, before increasing prices, provide calculations of the revised maximum retail prices of drugs and biologicals to the Division of Costing and Pricing of the Drug Regulatory Authority of Pakistan,” it said.
The decision had been due for months so that drug importers and makers could get what they wanted, which was a 39% price hike for all drugs.
They had said that if the prices didn’t change, the country’s medicine business could fail.