Finance czar Ishaq Dar convinces pharmaceutical firms to reduce price of fever pills

ISLAMABAD: Following a meeting with Finance Minister Ishaq Dar, pharmaceutical companies Wednesday agreed to reduce the price of a paracetamol 500mg tablet to Rs2.35.

Dar met with the heads of pharmaceutical companies in the federal capital to review the retail price of the fever pill.

According to the finance ministry, the heads of main pharmaceutical companies have agreed to decrease the price of a single fever tablet to Rs2.35. The ministry added that it has also convinced the companies to set the price of one syrup bottle at Rs177.6.

Following the meeting, the ministry said that companies making these medicines have resumed production.

Health minister  denies reports citing suspension of Panadol 

Minister for National Health Services, Regulations, and Coordination Abdul Qadir Patel said that GlaxoSmithKline (GSK) Consumer Healthcare Pakistan has resumed its manufacturing and supplying of Panadol in Pakistan.

Speaking with journalists in Islamabad, the minister denied reports citing the suspension of Panadol products from GSK in Pakistan and clarified that the company has not stopped production.

“We want to facilitate the pharmaceutical industry in the country, and the pricing issue of medicine is being discussed with the relevant quarters.”

A few days ago, Pakistan was expected to witness a worsening medicine crisis after GSK announced to stop the production of all Panadol products, saying the company is facing heavy financial losses.

The pharmaceutical company declared force majeure and stopped the production of Panadol tablets, Panadol Extra tablets and Children’s Panadol Liquid range, citing losses in the production due to an increase in the price of paracetamol raw ingredients.