New drug policy: Price freeze to be enforced till mid-2016
Any increase in prices will be pegged to consumer price index (CPI). STOCK IMAGE
The prices of all drugs will be frozen till June 30, 2016, and any increase in prices will be pegged to the consumer price index (CPI).
This was said by State Minister for National Health Services, Regulation and Coordination (NHSRC) Saira Afzal Tarar during a press conference on Wednesday to announce the first comprehensive drug pricing policy.
She elaborated on the new policy, saying that increase in the prices of 50 essential medicines shall be restricted to 50 per cent of CPI with a cap of four per cent increase. The prices of other drugs will be restricted to 70 per cent of CPI with a cap of six per cent, she said.
Tarar said that price reductions of up to 30 per cent on some items has been introduced with an annual reduction of up to 10 per cent.
The minister said that the prices of new drugs would be based on the average prices in India and Bangladesh, and if certain drugs were not available in these countries, the prices would be pegged against the lowest level in developed countries which regulate drugs prices.
“The price of generic drugs shall be fixed at 30 per cent or less than that of name brands, which will provide economical options to patients in Pakistan,” she said.
Published in The Express Tribune, February 19th, 2015.