One of the most popular over-the-counter medicines, paracetamol, will now cost more thanks to a decision by the federal government that is likely to prevent a drug shortage. The event occurred at a meeting between important pharmaceutical corporations and Finance Minister Ishaq Dar.
Federal Finance Minister Senator Mohammad Ishaq Dar in a meeting with heads of main pharmaceutical companies discussed the retail price of paracetamol products. The pharma industry agreed upon the reduced prices of paracetamol 500mg tablet at Rs. 2.35,..(1/2)…
— Ministry of Finance (@FinMinistryPak) October 26, 2022
Pharmaceutical companies have agreed to a price rise that is about half of the amount first asked, according to a statement released by the Ministry of Finance.
According to the agreed-upon pricing, a 500 mg paracetamol tablet will cost Rs. 2.35, a 500 mg paracetamol additional tablet will cost Rs. 2.75, and a 117.6 rupee syrup will cost Rs.
It is important to note that since early September, there has been a paracetamol scarcity on the market. A number of circumstances, including an increase in demand brought on by the spread of infections following floods, the dengue outbreak, and a reduction in output, contributed to the scarcity of paracetamol.
The Drug Regulatory Authority of Pakistan (DRAP) warned the National Assembly Standing Committee on Health last month that pharmaceutical firms seek to raise the price of paracetamol.
GlaxoSmithKline Consumer Healthcare, which produces paracetamol under the trade name Panadol, announced on Friday that manufacturing was halted due to a force majeure.
To read our blog on “Pharmaceutical industry to receive tax breaks worth Rs. 25 billion in FY23,” click here.
