LAHORE: Rejecting the increase in drug prices by some multinational pharmaceutical companies, the Pakistan Chemists Retailers Association has warned of country-wide protests followed by closure of medical stores if the hike was not reversed.

“It is a pharma bomb which has been dropped by the multinational pharmaceutical companies as they have increased prices by more than 30 per cent of many drugs, including those meant for infants’ treatment and of some others being recommended during pregnancy,” PCRA central chairman Ishaq Meo told an emergent press conference at the Lahore Press Club on Monday.

He also criticised the Drug Regulatory Authority Pakistan (DRAP), holding it equally responsible for the situation, saying despite the multinationals challenging its writ, the authority did nothing except showing ‘concern’.

Mr Meo said the DRAP had left the poor at the mercy of these firms who had been earning huge profits in the name of ‘branded drugs’.

Warn of country-wide protest, shop closure

He said the multinationals were selling the same drugs in neighboring country (India) at much lower price, but for local patients the prices were exorbitant.

“In order to end monopoly of the brand drugs, the government should immediately intervene and introduce a designated policy to market the life-saving drugs under generic names”, he suggested.

He said the government should allow drug manufacturing under Chinese Pharmacopoeia which would further help it market low-priced medicines.

Meo also sought PCRA representation in the DRAP, being one of the major stakeholders, so that the body could play a role in adjusting or reviewing drug prices.

He said the way the multinationals increased drug prices arbitrarily left a big question mark on the DRAP’s credibility.

The drug prices have been increased from 15 to 30pc in the market without DRAP approval, while an artificial shortage of medicines has also hit patients.

“It is a criminal offence and serious violation of fundamental rights of patients,”the PCRA chairman said, adding that chemists and retailers could not stay aloof.

He demanded the federal government should take measure for bringing the prices down.

“If the action was not taken soon, the government will be responsible for the closure of the medical stores all over the country”, Ishaq Mayo warned.

He also shared with media a comparison of old and new prices of some drugs.

Meanwhile, the PCRA also called a protest meeting today (on Tuesday).

Published in Dawn, February 16th, 2016