Govt allows pharma companies to set prices of non-essential drugs

News Image

MG News | February 20, 2024 at 10:01 AM GMT+05:00

0:00

February 20, 2024 (MLN): The Federal Government has allowed pharmaceutical companies to sell medicines that are not included in the National List of Essential Medicines (NEML) at prices fixed by themselves, said a notification issued by the Ministry of National Health Services Regulations, and Coordination on Monday.

“In exercise of the powers conferred by Section 36 of the Drugs Act, 1976, the Federal Government, being of the opinion that the public interest so requires, is pleased to exempt all drugs and biologicals not included in the National Essential Medicines List (NEML) from the operation of Section 12 of the said Act,” the notification reads.

To note, Section 12 of the Drugs Act 1976 gives the power to fix the maximum price at which any drug specified in the notification is to be sold and specify a certain percentage of the profits of manufacturers of drugs to be utilized.

This is in accordance with the rules for purposes of research in drugs.

Essential medicines are those which satisfy the primary healthcare needs of the population, as explained by the the Drug Regulatory Authority of Pakistan (DRAP).

These are intended to be available within the context of functioning of health system at all times, in adequate amounts, in the appropriate dosage form with assured quality, and at a price that the individual and community can afford.

The model list of essential medicines as published by the World Health Organization can be found on the DRAP's website.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 172,400.73
346.40M
0.92%
1570.51
ALLSHR 103,483.96
796.97M
0.55%
561.58
KSE30 52,734.06
184.56M
1.08%
564.57
KMI30 245,565.33
110.97M
1.07%
2605.02
KMIALLSHR 67,233.70
319.67M
0.68%
453.28
BKTi 47,898.10
95.85M
0.98%
462.51
OGTi 33,838.49
13.78M
1.39%
464.88
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 88,080.00 90,115.00
86,915.00
330.00
0.38%
BRENT CRUDE 60.83 62.67
60.56
-1.41
-2.27%
RICHARDS BAY COAL MONTHLY 87.50 0.00
0.00
1.05
1.21%
ROTTERDAM COAL MONTHLY 94.50 0.00
0.00
-0.70
-0.74%
USD RBD PALM OLEIN 1,027.50 1,027.50
1,027.50
0.00
0.00%
CRUDE OIL - WTI 56.87 58.88
56.65
-1.48
-2.54%
SUGAR #11 WORLD 15.17 15.28
15.08
-0.12
-0.78%

Chart of the Day


Latest News
December 26, 2025 at 04:17 PM GMT+05:00

UAE unveils nationwide projects


December 26, 2025 at 04:13 PM GMT+05:00

PKR edges up against USD


December 26, 2025 at 02:33 PM GMT+05:00

Gold price in Pakistan rises Rs500 per tola


December 26, 2025 at 02:26 PM GMT+05:00

Weekly SPI decreases by 0.09%



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg