ISLAMABAD: The local pharmaceutical industry is no longer able to sustain itself in the manufacturing of medicines, As it has issued a warning that no medicines will be available beyond the next seven days.
A letter sent by the pharmaceutical industry to the Drug Regulatory Authority of Pakistan (DRAP) and the Ministry of Health Services, Regulation and Coordination reveals that the local pharmaceutical industry is heavily reliant on the import of raw materials to guarantee that medicines will always be available in Pakistan.
According to the letter, the pharmaceutical industry suffered a devastating blow as a result of the exponential increase in prices of active pharmaceutical ingredients—raw materials used in drug manufacturing—on the international market since the outbreak of Covic-19. During the same time, production costs like fuel, electricity, freight costs, and packing materials experienced an unprecedented increase.
It stated that the pharmaceutical industry repeatedly pleaded with the federal government and DRAP to take appropriate, concrete, and remedial measures, including allowing inflationary adjustments to the maximum retail prices of medicines, which would lead to the collapse of the local pharmaceutical industry if not addressed, in order to avert an imminent catastrophe.
The industry said that the DRAP and the federal government have done nothing to protect the public or fix the situation, which has led to the pharmaceutical industry’s demise because it can’t guarantee that safe, effective, and high-quality therapeutic goods will continue to be produced at reasonable prices.
According to the letter, the Pakistani rupee’s depreciation of approximately 26% against the US dollar since July 2022 has made the situation even worse. Most importantly, it has depreciated by approximately Rs. since the beginning of 2023. 50 versus the dollar.
In addition, the Consumer Price Index (CPI) increased by 27.6% in January in comparison to the same time last year.
According to the industry, a force majeure has been triggered in relation to the pharmaceutical industry’s obligations to ensure uninterrupted availability of medicines in the local market, which has now become impossible as a result of the aforementioned situation. This is due to the complete apathy of the federal government and the DRAP in failing to take any remedial steps.
The pharmaceutical industry added that it is now completely unsustainable to manufacture medicines and guarantee their availability beyond the next seven days due to the foregoing and constraints imposed by circumstances beyond its control.
24 thoughts on “Pharmaceutical Industry Warned The Alarming Situation In Next Seven Days ,”
Comments are closed.
To the btrams.com admin, You always provide helpful diagrams and illustrations.
Dear btrams.com admin, Your posts are always well organized and easy to understand.
Hi btrams.com owner, Thanks for the comprehensive post!
Dear btrams.com webmaster, Your posts are always well-received by the community.
To the btrams.com admin, Thanks for the well-organized post!
To the btrams.com webmaster, You always provide in-depth analysis and understanding.
Hi btrams.com admin, You always provide useful information.
Hi btrams.com owner, Thanks for the post!
To the btrams.com administrator, Your posts are always well-balanced and objective.
Hello btrams.com administrator, Your posts are always well-supported by facts and figures.
To the btrams.com webmaster, Thanks for the well-researched and well-written post!
Hello btrams.com webmaster, Your posts are always well-referenced and credible.
Dear btrams.com webmaster, Your posts are always a great source of information.
Dear btrams.com administrator, Your posts are always informative and well-explained.
Hi btrams.com owner, Thanks for the well-organized and comprehensive post!
Hello btrams.com administrator, Your posts are always a great source of information.
Hello btrams.com owner, You always provide practical solutions and recommendations.
Hi btrams.com admin, Your posts are always well-referenced and credible.
Hello btrams.com admin, Your posts are always well thought out.
Hi btrams.com webmaster, You always provide in-depth analysis and understanding.
Hi btrams.com owner, You always provide great information and insights.
To the btrams.com owner, Your posts are always well structured and easy to follow.
Dear btrams.com owner, Your posts are always a great read.
Hi btrams.com admin, Your posts are always thought-provoking and inspiring.