The Drug Regulatory Authority of Pakistan (DRAP) on Friday announced a price hike of 9-15 percent across the country, a notification stated.
According to the notification, the revised maximum retail prices of the medicines will be printed on the label.
Drug companies had been demanding an increase in the prices of medicines for some time. The companies had also threatened to stop manufacturing drugs.
DRAP, accepting the drug manufacturers' demands, issued a notification for the increase in medicine prices. According to the notification:
1. Maximum retail prices of drugs may be increased under paragraph 12 (8) of Drug Pricing Policy, 2018, namely:
(a) “Nine percent over and above the maximum retail prices determined as determined under hardship category during the year 2018; and
(b) Fifteen percent over and above existing maximum retail prices determined under the Drug Pricing Policy, 2018 for drugs other than those specified in clause (a)
2. The revised maximum retail prices shall be printed on the label in the manner prescribed by the Drugs [Labelling and Packaging] Rules, 1986 and the manufacturers and importers of drugs shall furnish calculations of revised maximum retail price of drugs to the Division of Costing and Pricing of the Drug Regulatory Authority of Pakistan before affecting the increase.