KARACHI: Citing an unprecedented increase in the cost of production due to the massive rupee devaluation in Pakistan, several local pharmaceutical companies Monday said it had become “completely unsustainable” for them to manufacture medicines and ensure their availability beyond the next seven days.
Today, around 10 leading pharmaceutical companies have given separate notices to the federal health ministry and the Drug Regulatory Authority of Pakistan (DRAP), claiming that they are going to stop production of medicines after a week if prices are not increased immediately.
“The cost of production of medicines has increased manifolds due to massive rupee devaluation and increase in prices of utilities”, former chairman of the Pakistan Pharmaceutical Manufacturers Association (PPMA) Qazi Mansoor Dilawar said.
Referring to decisions taken at a meeting of pharmaceutical companies on Sunday — attended by PPMA members from both South and North Zones — Dilawar said: “Due to an increase in the prices of Active Pharmaceutical Ingredients (API) as well as packaging material, it is no more feasible for pharmaceutical companies to manufacture medicines and sell them at the current rates.”
