Caretaker govt increases prices of 146 life-saving medicines

Islamabad: The interim federal government on Wednesday announced a hike in the prices of 146 life-saving medicines.

The prices of injections vital for medical treatment also went up.

According to the notification issued by the relevant authorities,  the decision primarily focuses on essential drugs crucial for treating various ailments including cancer, vaccines, antibiotics, heart disease, diabetes, physical pain, and epilepsy.

It's worth noting that the Drug Regulatory Authority of Pakistan (DRAP) proposed an increase in the prices of 262 drugs to the interim government. However, the government chose to implement adjustments exclusively for 146 medicines deemed essential for saving lives.

The medicines other than those classified as essential in the national list would be exempted from the Drugs Act of 1976, with necessary amendments to the Drug Pricing Policy 2018 anticipated.

The government deregulated drug prices, granting pharmaceutical companies the authority to independently revise prices. This move signifies a substantial shift in pharmaceutical pricing governance, which could potentially reshape the healthcare industry landscape.

Among the medicines subject to price adjustments, 116 are designated for price revisions to be carried out by pharmaceutical companies themselves.

It may be mentioned here that the Drug Regulatory Authority of Pakistan (DRAP) proposed an increase in the prices of 262 drugs to the interim government.

However, the government chose to implement adjustments exclusively for 146 medicines deemed essential for saving lives.