The country`s pharmaceutical industries are requesting permission from the government to increase the price of their drugs, citing a rise in production costs linked to causes such as depreciation of the national currency, the dollar crisis, rising worldwide pricing for raw materials, and growing energy expenses, reports an English daily.
Leaders of the Bangladesh Association of Pharmaceutical Industries (BAPI) informed Salman F. Rahman, the Prime Minister`s Private Industry and Investment Adviser, during a courtesy meeting on January 18 that the cost of producing drugs has risen by up to 30% in the last year.
The Directorate General of Drug Administration (DGDA) has decided against raising the price of medications in spite of this.
They informed the adviser that as a result, pricing adjustments are required to offset rising costs and guarantee the survival of firms.
Salman F. Rahman responded by promising to talk to the prime minister about the matter, sources at that meeting told that English daily.
According to individuals who attended the meeting, BAPI leaders also plan to speak with the health minister about the issue shortly.
Leaders in the pharmaceutical sector have also voiced concern that if drug prices are not raised, there may be shortages in the market and a drop in drug quality.
"We conveyed to Salman F Rahman that we cannot move forward without increasing drug prices," BAPI general secretary SM Shafiuzzaman said to that English daily.
He promised to speak with the prime minister about the issue shortly, but he made no guarantees on a price hike, Shafiuzzaman added.
"The dollar was trading at Tk84 for a while, but it has now surged to Tk130. Because of the prolonged dollar crisis, opening import letters of credit (LCs) has become challenging. This presents a problem for us. The government is expected to exert pressure if we ask for a price rise, and they will probably object if the medication is taken off the market," he stated.
