ISLAMABAD: The Drug Regulatory Authority of Pakistan has given approval for a 7 percent increase in essential drug / medicine prices while allowing a 10 percent increase in prices of other drugs after the PTI led Government amended the Drug Pricing Policy 2018.
The Drug Regulatory Authority of Pakistan (DRAP) also issued a notification in this regard which stated:
Manufacturers and importers may increase their existing MRP’s of essential drugs/biologicals (excluding lower-priced) equal to 70% increase in CPI (with a cap of 7%) and MRPs of all other drugs/biologicals and lower-priced drugs up to increase in CPI (with a cap of 10%) subject to conditions,
According to the notification drug manufacturers and importers will have to submit complete calculations of raise in the maximum retail price (MRP) of any medicine signed and stamped by the Managing Director, Managing Partner, CEO or any authorized personnel.
The new drug / medicine prices will not be accepted by DRAP if the manufacturer or importer fails to provide these calculations. The new prices will go into effect after approval by DRAP however, if approval is not given within 30 days the new prices will automatically come into effect.
Furthermore, the pharmaceutical company, wholesaler, importer or hospitals will not be allowed to put a sticker of revised prices on the medicines as it is required that new prices be printed on the packaging directly according to the Drug Labeling and Printing Rules.
Also, new medicine prices will not apply to batches produced before the printing of this notification and the Ministry of Health will be reviewing prices every year based on the consumer price index (CPI).