PPMA threatens to raise drugs prices by 40 percent

Pakistan Pharmaceutical Manufacturers' Association (PPMA) has warned to increase prices of medicines manufactured in the country by 40 percent in a month, if the government takes no relief measure to support the local drugs' producers in view of massive rupee devaluation and other related pressing fiscal factors.
Speaking at a press conference held at local hotel here, Zahid Saeed, Central Chairman PPMA said some 250 medicines have virtually vanished from the Pharma market as their manufacturers did find it simply unfeasible to keep producing them given the irrational pricing of the government for these drugs.
He said that 40 per cent increase in prices of locally produced medicines would be a highly undesirable step for pharmaceutical manufacturers of the country as such a decision would only be taken to keep the industry afloat only for the sake of patients' needs.
"We know very much what could be the serious repercussions of our unilateral decision but this will be like the last resort for us to keep our businesses viable and functioning as otherwise ailing citizenry of this country would be the ultimate sufferers," he said. He said that manufacturing cost of the medicines in the country had been lately increased up to 60 per cent given the record devaluation of rupee and increase in duties and taxes on the industry.
He said that federal government was still reluctant to notify the new prices of a number of medicines as recommended by the Drug Pricing Committee (DPC) over a year ago. He said that it was high time for the government to notify new prices of medicines as per the recommendations of the DPC as any further delay to this effect would compel the Pharma industry to take a unilateral decision.
Zahid demanded that whatever drug pricing mechanism was adopted by the government, it should include the factor of fluctuation of the value of the local currency to keep the Pharma industry viable for the continuance of its production.
Former chairman PPMA Dr Kaiser Waheed said that government had no regard towards the cause of keeping the manufacturers of the medicines a viable industry. Therefore, the government even now insists on further slashing the prices of locally produced drugs as it should keep in mind that the medicines' prices in Pakistan are one of the lowest in the region as there is no valid cause to further bring them down," he said.
Both PPMA leaders demanded Prime Minister, Federal minister, and secretary for Ministry of National Health Services, Regulation, & Coordination; and Drug Regulatory Authority of Pakistan to immediately take corrective measures in order to provide relief to the local Pharma industry.