Drug companies mount medicines’ prices up to 170 percent

Nov 30, -0001
Staff ReportISLAMABAD: Pharmaceutical companies have raised many medicines' prices up to 170 percent without any justification, SAMAA reported on Sunday.According to brief details, one drug company has increased price of cough syrup to Rs. 59 a bottle directly from Rs. 30 while another company has increased price of ORS to Rs. 27 from Rs. 10 per pkt, which is 170 percent increase in price without any justification.Since passage of 18th Amendment, till date no formula has been finalized for increase of drugs prices in the country while the pharmaceutical companies took advantage of the situation and mounted many medicines prices to many folds.Lahore High Court ordered the Pricing Board to convene an immediate meeting for reviewing drugs prices but it seems that the concerned high officials are helpless in front of influential drug companies which have taken exclusion orders from court on the issue.Early in February this year, the Drug Regulatory Agency was formed and first meeting of the Pricing Board was called on May 28 but it was postponed, without giving any reason, for unlimited period. SAMAA

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