DRAP okays 10pc hike in medicine prices

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ISLAMABAD: The Drug Regulatory Authority of Pakistan (DRAP) approved an increase of up to 10 per cent in prices of medicines on Saturday.

According to the notification issued on Saturday, the federal government has amended the Drug Pricing Policy 2018, allowing pharmaceutical companies to increase prices of medicines up to 10pc.

The notification stated that the regulator has allowed pharmaceutical companies to increase prices of their life saving drugs by up to 7pc and other drugs by up to 10pc. The decision to raise drug prices has been taken in line with the Consumer Price Index (CPI).

The notification said the Ministry of Health will review drug prices every year according to the CPI.

Earlier in January, the Ministry of National Health Services (NHS) had notified reduction in prices of 89 medicines on directives of Prime Minister Imran Khan after the federal cabinet reduced the prices in its meeting.

Special Assistant to the Prime Minister on Health Dr Zafar Mirza said the prices of several life-saving drugs had also been reduced.

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