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 The leading web portal for pharmacy resources, news, education and careers March 23, 2019
Pharmacy Choice - Pharmaceutical News - DRAP hikes medicine prices by upto 15 percent - March 23, 2019

Pharmacy News Article

 1/12/19 - DRAP hikes medicine prices by upto 15 percent

The Drug Regulatory Authority of Pakistan (DRAP) on Friday announced to hike prices of medicines by up to 15 percent. A spokesperson for DRAP termed the hike to be in larger interest of the country and patients. He said the increase in medicine prices was inevitable owing to various reasons. 'The dollar increased by 30 per cent over the last year, which led to an increase in prices of raw material and packaging.' Besides, the spokesperson said, the increase in gas and electricity prices, employees' salaries and additional duty put extra burden on the pharmaceutical industry. The prices had to be revised to keep up with the cost incurred on the manufacturing of medicines, he added. 'In exercise of the powers conferred by clause (a) of section 7 of the Drug Regulatory Authority of Pakistan Act, 2012 (XXI of 2012) read with section 12 of the DrugsAct.1976 (XXX of 1976), the Drug Regulatory Authority of Pakistan with the approval of the Federal Government is please to fix maximum retail prices of drugs subject to the conditions specifies below,' states a notification issued by DRAP.

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