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Novartis stops making TB drugs in Pakistan over price issue

Khurram Shahzad 01:02 AM | 21 Jul, 2016
Novartis stops making TB drugs in Pakistan over price issue
ISLAMABAD - Swiss pharmaceutical firm Novartis AG said that it has stopped making tuberculosis drugs in Pakistan due to concerns over pricing.

Doctors and public health officials said shortage of the drugs could lead to a rise in drug-resistant strains of TB, as tens of thousands of patients have missed doses mid-treatment, prompting fears of a health crisis in a country with the world's fifth-highest TB rates.

The drugs include combinations of antibiotics as well as substitutes for patients with complications.

The Drug Regulatory Authority of Pakistan (DRAP) sets prices for about 320 critical medicines. But pricing caps have not been significantly raised since 2001, making it non-viable for firms to make many drugs.

The issue has become particularly acute for TB drugs. Of 18 companies licensed to manufacture TB drugs in Pakistan, only four, including Novartis, were making them this year, said Ayesha Haq, executive director of Pharma Bureau, a trade group representing 20 firms in Pakistan.

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ISLAMABAD – Pakistani rupee finally ended its losing streak against US dollar on Tuesday, gaining Rs4.43 after massive depreciation over the last week.

During the intra-day trading, the rupee was hovering at 266.75 with an appreciation of around 1.07 percent as talks between Pakistan and IMF underway for a stalled bailout programme.

Earlier on Monday, the rupee plunged by Rs7 and the greenback touched all-time high of Rs272. Last week, the local currency dropped by Rs24.54 in the interbank market – the largest single-day depreciation in more than two decades.

Finance experts linked the rupee’s recovery to exporters offloading some of their proceeds as remittances and export continued days after dollar cap was removed.

The country of over 220 million is facing a worst economic crisis with the forex reserved held by the country’s central bank remaining at critical $3.68 billion which were not enough to cover a month's import.

https://en.dailypakistan.com.pk/30-Jan-2023/gold-continues-to-shine-hits-all-time-high-of-rs210-500-in-pakistan

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs205,900 on Tuesday. The price of 10 grams of 24k gold was recorded at Rs176,530.

Likewise, 10 grams of 22k gold were being traded for Rs162,500 while a single tola of 22-karat gold was being sold at Rs 182,100.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 205,900 PKR 2,370
Karachi PKR 205,900 PKR 2,370
Islamabad PKR 205,900 PKR 2,370
Peshawar PKR 205,900 PKR 2,370
Quetta PKR 205,900 PKR 2,370
Sialkot PKR 205,900 PKR 2,370
Attock PKR 205,900 PKR 2,370
Gujranwala PKR 205,900 PKR 2,370
Jehlum PKR 205,900 PKR 2,370
Multan PKR 205,900 PKR 2,370
Bahawalpur PKR 205,900 PKR 2,370
Gujrat PKR 205,900 PKR 2,370
Nawabshah PKR 205,900 PKR 2,370
Chakwal PKR 205,900 PKR 2,370
Hyderabad PKR 205,900 PKR 2,370
Nowshehra PKR 205,900 PKR 2,370
Sargodha PKR 205,900 PKR 2,370
Faisalabad PKR 205,900 PKR 2,370
Mirpur PKR 205,900 PKR 2,370

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