DRAP approves 10 per cent hike in medicine prices

The Drug Regulatory Authority of Pakistan (DRAP), on Saturday, approved up to a 10 per cent hike in medicine prices in the country.

DRAP has approved up to 10 per cent hike in medicine prices as the federal government amended the Drug Pricing Policy 2018 allowing pharmaceutical companies to implement price hike.

According to details, the regulatory body has allowed a 7 per cent price hike for life saving drugs, whereas other medicines might experience up to 10 per cent price increase.

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Furthermore, the notification issued by DRAP further stated that medicine prices will be reviewed every year in accordance with consumer price index (CPI).