The budget 2014-15 has had no impact on the medicine prices, a survey carried out by Business Recorder showed, here on Monday. Medicine traders at Bohar Bazaar (medicine wholesale market) told Business Recorder that medicine prices have witnessed no change after the budget, but drug manufacturers have increased prices of most of the drugs by 15 percent and prices of some drugs even by 100 percent two months prior to the federal budget.
According to traders those companies which increased drug prices in March and April include Bosh Pharma, Merck, Pacific, Werick, SJ&G and others. Bosh Pharma increased the price of Penro injection, Merck increased the price of tablets of Buscopan and Concor, Pacific Pharma raised the price of Maxius and Pacific DM cough syrup, Werick Pharma increased the price of Domel capsules/tabs and SJ&G Pharma raised the price of Acenace. In February, 2014 the pharmaceutical companies increased the prices of an entire range of drugs by 15 to 100 percent on the plea that input costs since 2001, when previous government allowed drug manufacturers to increase medicine prices, has increased manifold.
According to Abdul Jabbar, a medicine trader and leader of the wholesalers at Bohar Bazaar, the medicine companies started increasing prices of different drugs in December last year on weekly basis and in February pharma companies increased the price of Nexum tabs from Rs 259 per pack to Rs 270 per pack, Nuerol forte price from Rs 62 to Rs 72 per pack, syrup cefim 30 ml from Rs 143 per bottle to Rs 155 per bottle, voltral 50-mg tabs from Rs 110 to Rs 115, Caflam tab from Rs 140 to Rs 160 and Lipigel 10-mg tab from Rs 155 to Rs 180 per pack.
Different Pharmaceutical companies have informed the traders that within the next few days they are going to increase the prices of an entire range of antibiotics by 15 percent, Jabbar added. Some of the pharmaceutical companies have increased the prices of an entire range of drugs being produced at their outlets, like SANOFI Pharam, which has increased prices of all its products. Injection H.M. Massone, which is used during the last stages of pregnancy, has registered a 100 percent increase as its price has reached Rs 1,390 per injection against Rs 750 per injection.
Tablet Aprovel 300mg used for blood pressure price has increased from Rs 1,200 per 28 tabs pack to Rs 2,100 per 28 tabs pack, price of tab dianil 5mg used for the treatment of diabetes has reached Rs 88 per pack to Rs 101 and tab gardin 250mg an anti-inflammatory drug price has gone up to Rs 236 per pack from Rs 185 per pack.
Traders said that in December 2013, the prices of a few of the drugs such as Salbutamol used for asthma treatment rose by Rs 50 per pack - from Rs 125 per pack to Rs 175 per pack and price of metformin used for treatment of sugar rose by Rs 3 per pack - from Rs 147 per pack to Rs 150 per pack. According to Pakistan Pharma Bureau, medicines' prices had not been revised in the country since 2001. "When we are comparing the prices of different most-used medicines in India and Pakistan, the prices of about 70 percent of the top 100 medicines are higher in India than in Pakistan", a representative of the bureau said requesting anonymity as he was not authorised to comment.
In budget 2014-15, the raw material used for manufacturing of pharmaceutical products, medical/surgical equipment and substances registered as drugs under the Drugs Act, 1976 would keep on enjoying sales tax exemption. Budget 2014-15 transposes SRO 551(1)/2008, dated 11-06-2008 with certain changes.
SRO grants exemption of sales tax on import and local supply to a number of goods such as raw material for pharmaceutical industry, iodized salt, medical equipment, components of energy saver lamps, renewable energy items, raw cotton and oil seeds for sowing etc. In view of their essential nature, the government has decided continue exemption on the following goods listed at S. No 3, 4, 5, 7, 11, 13, 14, 16, 27 and 29 by transferring them to the Sixth Schedule of the Sales Tax Act, 1990. The substances registered as Drugs under the Drugs Act, 1976; raw material for manufacture of pharmaceutical products; Halal edible offal of bovine animals; iodised salt; components of energy saver lamps; white crystalline sugar and certain medical and surgical equipment.
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