DRAP denies reports of medicine price hikes

ISLAMABAD: DRAP has dismissed reports of drug price hikes as baseless.

According to details, the Drug Regulatory Authority of Pakistan (DRAP) has strongly denied the circulating reports regarding the recent hike in the prices of essential medicines.

According to the DRAP spokesperson, there has been no increase in the prices of any essential medicine, including insulin and other life-saving drugs.

The DRAP spokesperson clarified that no new increase in the prices of essential medicines has been approved in the last few months. He added that pharmaceutical companies are not authorized to increase the prices of medicines included in the list of essential medicines on their own.

DRAP, as a regulator, is closely monitoring the availability and prices of medicines in the market. DRAP has also issued two important advisories to pharmaceutical companies, directing them to adopt multiple sources of raw materials and maintain adequate stocks of medicines so that there is no shortage due to possible disruptions in the global supply chain.

According to the report, about 85 percent of the medicines used in Pakistan are manufactured locally. The spokesperson said that potential disruptions in supply chains due to current global or regional conditions are not currently affecting the supply of medicines.

According to industry leaders, there is no immediate threat of shortage of medicines in the country and most companies have sufficient stocks of raw materials and finished medicines for 4 to 6 months.

DRAP has appealed to all media houses to verify with the authorities before publishing any news so as not to create anxiety among the public. DRAP is fully committed to ensuring uninterrupted supply of quality medicines to the public.