ISLAMABAD: Medicine prices in Pakistan have increased by 15 percent since the government introduced its deregulation policy. The Pakistan Pharmaceutical Manufacturers Association (PPMA) clarified that the recent 32 percent claim was misleading. The actual rise reflects price changes only after February 2024, not cumulative increases over the past two years.
According to the PPMA, the 15 percent increase includes a 2.5 percent growth from production expansion and new product launches. This means the real impact on existing medicines is about 13.5 percent. The association cited the IQVIA report, showing that overall prices rose just 16 percent in the last 12 months.
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PPMA emphasized that before deregulation, Pakistan’s pharmaceutical sector faced severe challenges. Strict price controls, massive rupee depreciation, and inflation up to 35 percent caused acute shortages. Vital medicines, including anti-cancer drugs, insulin, anti-TB medications, heparin, and cardiovascular drugs, were in short supply.
The deregulation policy helped restore availability of over 50 life-saving and critical drugs in local pharmacies. Manufacturers resumed production of many medicines, ensuring patients no longer rely on smuggled or counterfeit drugs. PPMA credited the government’s timely actions for stabilizing the sector.
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The association highlighted that Pakistan’s policy now aligns with international standards. Only essential medicines remain under price control, similar to practices in India and Bangladesh. PPMA concluded that deregulation has improved both availability and market stability while keeping price increases moderate.