Pakistan approves 7% increase in prices of essential drugs

07:14 PM | 18 Jul, 2020
Pakistan approves 7% increase in prices of essential drugs
Share

ISLAMABAD – The Drug Regulatory Authority of Pakistan (DRAP) on Saturday approved a 7 per cent increase in the prices of essential drugs/biological and a 10 per cent increase in other medicines.

DRAP also notified increase in the prices of essential drugs and biologicals.

While manufacturers and importers may increase their existing MRP’s of essential drug/biologicals excluding lower-priced equal to 70 per cent increase in CPI with a cap of 7 per cent and MRPs of all other drugs/ biologicals and lower-priced drugs up to increase in CPI with a cap of 10 per cent increase in other medicines.

DRAP said the calculations of the revised Maximum Retail price (MRP) of the medicines would have to be submitted by the manufacturer or importer concerned, signed and stamped by Managing Director, Managing Partner or CEO or any other authorised person.

According to the notification, evidence for authenticity of existing MRPs to the Authority (Division of Costing and Pricing) Calculations of revised MRPs, duly singed and stamped by Managing Director or Managing Partner or CEO or any authorised person on his behalf, shall be submitte read the notification.

The government had allowed a 5.14% increase in prices of essential medicines and biologicals whereas it had allowed a 7.3410% increase in prices of other medicines.