Why a drug price hike was necessary in Pakistan

Description

On Sept 22, the federal cabinet approved the increase in the prices of 94 life-saving and essential drugs. This increase ranged from 15 percent to more than 100pc. These medicines included ones used for the treatment and management of cancer, blood pressure, heart diseases, diabetes and glaucoma. The article reviews critically the impact and reasons behind the price increase and potential drivers for local pharmaceutical industry in Pakistan to survive and compete in the global pharmaceutical market. 

Covid-19 has been a great challenge globally, but it also offers an opportunity for Pakistan’s pharmaceutical industry to acquire the core capabilities for vaccine manufacturing. Even if the manufacturing formulae were given to us for free, we couldn’t manufacture the Covid-19 vaccine locally. The acquisition of vaccine manufacturing capabilities can, therefore, be a first leap towards the production of next-generation, high-value pharmaceuticals in Pakistan

Subject

Pharmaceutical pricing in Pakistan; equitable access to medicines; price increase