Karachi, December 10, 2018 (PPI-OT): The Pakistan Pharmaceutical Manufacturers’ Association (PPMA) has warned that it will be compelled to increase prices of medicines manufactured in the country by 40 per cent in one month’s time if the present government takes no step to provide much-needed relief to the local drugs’ producers in view of massive rupee devaluation and related pressing fiscal factors. The warning to this effect was given by Central Chairman of PPMA Zahid Saeed while addressing a press conference here on Saturday.
“We have very fewer choices before us now as already up to 250 medicines have virtually vanished from the Pharma market of the country as their manufacturers did find it simply unfeasible to keep producing them given the irrational pricing of the government for these drugs,” said PPMA chairman.
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 had been reluctant to notify the new prices of a number of medicines despite over a year had passed since recommendations had been given to this effect by the Drug Pricing Committee (DPC).
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. “The issue has been pending since the last federal government as we were very much hopeful on this front once the new government of Pakistan Tehreek-e-Insaf came into power over 100 days back but so far no progress has been done on this matter,” he said.
He 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 PPMA chairman Dr Kaiser Waheed said on the occasion that implementation on new drug pricing policy had been pending since one last year to the utter disadvantage of the Pharma industry of the country.
He said that government had no regard at all towards the cause of keeping the manufacturers of the medicines a viable industry. “That is the reason 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,” said Dr Waheed.
He said that government should allow a rational increase in prices of drugs keeping in view rest of the alarming inflationary trends in Pakistani economy. “If that doesn’t happen the government is feared to become the prime sufferer of this situation as the resultant shortage of medicines will foremost hit the government-run hospitals and patients there,” he said.
Dr Waheed said that one way out for the Pharma industry could be the compromise on the quality of medicines but that would not be in the interest of any of the concerned stakeholders. Both the PPMA leaders demanded Prime Minister, Federal minister, and secretary for Ministry of National Health Services, Regulation, and Coordination; and Drug Regulatory Authority of Pakistan to immediately take cognizance of the situation and order the due corrective measures for the provision of the just relief to the manufacturers of medicines.
For more information, contact:
Central Office,
Pakistan Pharmaceutical Manufacturers’ Association (PPMA)
House No: 474, Street No. 34, Sector I/8-2, Islamabad, Pakistan
Phone: +92-51-4435104
Director: +92-51-4435103
Fax: +92-51-4435105
E-mail: info@ppma.org.pk
Website: www.ppma.org.pk