DRAP seeks compliance with order for 15% reduction in drug prices

Islamabad: The Drug Regulatory Authority of Pakistan (DRAP) has instructed the Pakistan Pharmaceutical Manufacturers Association, the Pharma Bureau, and the Pakistan Chemists and Druggists Association to ensure that the maximum retail price (MRP) of 89 generic drugs is reduced by 15 per cent as per the Drug Pricing Policy 2018, and to submit a compliance report to the Authority, no later than June 25.In written instructions issued on June 19, 2019, DRAP has directed generic manufacturers to reduce MRPs of their drugs by 15 per cent from the approved MRPs of originator drugs underthe Drugs Pricing Policy 2015.The policy clearly provides that any generic shall be at least 15% less than the MRP of originator brand and that the generic drug price cannot reach or exceed the price of an originator drug.DRAP has issued clear directions to pharmaceutical companies to reduce the MRPs of their higher priced generics up to the level mentioned in the June 19 letter. However, pharmaceutical companies selling generic drug at lower price are not allowed to increase the prices of their drug products.“Non-compliance of the provisions of the Drug Pricing Policy 2018 will be considered as overcharging, and legal action will be taken as per Drug Act 1976 and rules framed hereunder, DRAP Act 2012 and SRO 913(I) 2017,” the DRAP letter warns, soliciting a compliance report by all pharmaceutical companies, latest by June 25.

from The News International - Lahore http://bit.ly/2WZMR04