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Pharmaceutical Companies to Set Prices for Medicines

Pharmaceutical Companies to Set Prices for Medicines.
In a notable policy alteration, the Federal Government of Pakistan has opted to deregulate the pricing of non-essential medicines, granting pharmaceutical companies the authority to establish their own prices.

This decision, disclosed in a recent notification by the Federal Cabinet, has sparked concerns regarding potential price escalations for consumers.

Under the revised regulations, pharmaceutical companies now possess the discretion to set prices for non-essential medicines, departing from the previous framework overseen by the Ministry of Health.

However, it’s essential to recognize that prices for 464 medicines listed on the National Essential List (NEML) will continue to be regulated, ensuring accessibility to crucial medications for the public.

The announcement has triggered discussions regarding its potential ramifications on healthcare affordability in Pakistan. Critics fear that deregulation might lead to inflated prices of non-essential medicines, exacerbating the financial strain on patients already burdened by healthcare expenses.

Despite the deregulation, the Drug Regulatory Authority of Pakistan (DRAP) will uphold its oversight of pricing for life-saving medications, prioritizing public health interests. Recently, the Federal Cabinet sanctioned price adjustments for 146 life-saving medicines, further heightening concerns regarding healthcare affordability.

To address potential medication shortages, the Ministry of National Health Services and DRAP have urged citizens to report any scarcities through the authority’s online platform. This collaborative initiative aims to tackle supply chain obstacles and ensure uninterrupted access to essential medications for all citizens.

As the pharmaceutical pricing landscape undergoes substantial transformations, stakeholders are vigilantly monitoring developments to gauge their impact on public health and accessibility to vital medicines. Continued updates will be provided on this evolving scenario.

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