DRAP cuts 59 items prices by 10pc

ISLAMABAD: The federal cabinet has approved reduction in maximum retail price (MRP) of originator brands of above 59 products by up to 10 percent, Drug Regulatory Authority of Pakistan (DRAP) said in a statement on Thursday.

DRAP spokesperson said the federal government has introduced a transparent way through the Drug Pricing Policy-2015 for price increase as well as decrease of MRP of medicines. The policy was notified after the approval of the DRAP policy board, the economic Coordination Committee (ECC) of the cabinet and the federal government.

The spokesperson said the impression that DRAP only works on increasing prices is wrong, “DRAP has reduced the prices of a number of brands having high sales volume”.

Under the provisions of the said policy, on the recommendation of the authority, the federal cabinet has approved reduction in MPR of originator brands of above 59 products up to 10 percent.