April 8, 2019 (MLN): Drug Regulatory Authority of Pakistan (DRAP) launched a countrywide crackdown against pharmaceutical companies involved in illegal and unauthorized increase in prices of medicines.
According to a spokesperson of the Drug Regulatory Authority, action was taken against thirty-one pharma companies who were also barred from producing medicines, while cases were registered against them as per the Drug Act.
Following this event, Pakistan’s Pharmaceutical Manufacturer’s Association (PPMA) gave a clarification regarding this fiasco today, claiming the news of overpricing to be baseless and misleading.
DRAP has allegedly started investigation on around 100 drugs which are being sold at prices higher than approved by the government. This allowed an average of 15% rise in prices.
In an attempt to clear the air on this matter,the Central Chairman of PPMA, Mr. Zahid Saeed pointed out that the government had permitted a 15 per cent increase in prices of locally produced medicines in January this year to ensure the very survival of the Pharmaceutical industry of the country facing serious economic challenges in its strive to produce quality drugs at affordable prices for the patients in Pakistan.
Addressing a press briefing in Islamabad today, he said that increase in prices of medicines had been ordered after following all the due procedures, formalities, regulatory framework, and in accordance with the latest Drug Pricing Policy of the government.
He added that increase in prices of medicines had been in conformity with the several directions of the apex judiciary on the issue.
He said that apart from 15 per cent increase in prices of medicines, the Drug Regulatory Authority of Pakistan had ordered increase in prices of 450 medicines as all their cases fall in the category of extreme hardship as special consideration was required to ensure continuous local manufacturing of these essential drugs as their cost of production went up phenomenally during last 10 years due to various economic and business factors.
He said that the increase in prices of these hardship medicines had been well in accordance with Drug Pricing Policy 2018 and earlier directions of the Supreme Court on the issue.
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