DRAP has termed the reports of an increase in medicine prices as baseless.
According to details, the Drug Regulatory Authority of Pakistan (DRAP) has strongly denied circulating reports regarding a recent increase in the prices of essential medicines.
According to the DRAP spokesperson, no increase has been made in the prices of any essential medicines, including insulin and other life saving drugs.
The spokesperson clarified that no new approval has been given for any increase in the prices of essential medicines over the past few months. He further stated that pharmaceutical companies are not authorized to increase the prices of medicines included in the essential drugs list on their own.
As a regulator, DRAP 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 for the procurement of raw materials and maintain adequate stock of medicines to prevent shortages due to possible disruptions in the global supply chain.
According to the report, approximately 85 percent of medicines used in Pakistan are produced locally. The spokesperson said that potential disruptions in supply routes due to current global or regional situations are not affecting the availability of medicines at present.
According to industry leaders, there is no immediate threat of a shortage of medicines in the country, and most companies have sufficient stocks of raw materials and finished medicines for four to six months.
DRAP has appealed to all media houses to verify any news with the authority before publication to avoid creating unnecessary panic among the public. DRAP is fully committed to ensuring the uninterrupted supply of quality medicines to the public.
