LAHORE—The Pakistan Pharmaceutical Manufacturers Association (PPMA) has emphasized the need to update the existing drug laws in line with global trends. This move would be in the best interests of patients and the pharmaceutical industry.
The high input costs, highest inflation, and interest rates in Asia have caused local industries to shut down. Excessive regulations have led to the disappearance of multinationals, with only four MNCs currently operating in the country. These MNCs have recently reported historically high losses. This situation is affecting patients the most and is becoming increasingly worse.
PPMA Chairman Mian Khalid Misbah has stated that the government must intervene promptly to save the pharma industry in the country’s greater interests and the suffering of humanity. He also mentioned that India and Bangladesh have updated their drug laws and are regulating the prices of only a few essential drugs while the rest are left to market forces. This has resulted in better medicine availability at relatively low prices due to open competition. These countries are earning billions of dollars through medicine exports.
Mr Misbah appreciated the Federal Government’s decision to deregulate the prices of non-essential drugs, as it would provide much-needed support to the survival of the pharma industry and attract investment. However, he stated that much more needs to be done to bring the pharma sector’s regulations up to par with those of neighbouring countries and make it an attractive investment market.
He added that the long delays in revising the prices of essential drugs have caused severe shortages in the country. For instance, the delay in revising the hardship price of Tegral, a seizure medicine, has resulted in its being sold at Rs3,000 or more, four times the proposed revised price. Such delays have resulted in counterfeit and smuggled medicines entering the market, ultimately affecting patients. Timely implementation of policies will improve medicine availability, attract FDI, and encourage MNCs to stay in Pakistan.
PPMA chairman suggested that the government should increase the health budget from 1% to 2% to provide free life-saving essential drugs to patients at government hospitals, similar to other countries in the world.
