Pakistan Pharma calls for drug price hikes

The Pakistani government should allow drug producers to make upward revision in the prices of their products ranging from 15% to 20% to sustain the sector's existence, according to Pakistan Pharmaceutical Manufacturers Association chairman Kashif Sajjad Sheikh who, at a press conference in Karachi, also warned of a severe shortage of medicines including life saving drugs in the country unless "something was done."

In an interview, he added that, "during the last seven years, prices of medicines remained unchanged despite a steep rise in inflation and increase in the input of the pharmaceutical sector, which has forced the industry to face its worst crises ever."

Currently, he noted, there are 400 pharmaceutical companies, 375 local and 25 international, operating in the country supplying 75% of the medical requirements of the population and providing employment opportunities to at least 450,000 people.