Essential drug prices going up

By Nadia Fazlulhaq

The State Pharmaceutical Manufacturing Corporation (SPC) has increased prices of more than 50 essential drugs and has warned of further increases. SPMC Chairman M.A.B. Hemachandra said the prices of chemicals and other raw material had increased in the world market and the local authorities had no option but to raise prices.

The Health Ministry’s medical supplies division which supplies drugs to public hospitals and the State Pharmaceutical Corporation are the main buyers of the SPMC-manufactured drugs. Mr. Hemachandra said raw materials for the manufacture of drugs were imported mainly from India and China.

The value of the Indian rupee was soaring while China had slashed the rebates for such raw materials after some of the plants manufacturing such chemicals were closed down in China. The SPMC chairman said that among the essential drugs affected by the price hike were the widely used antibiotic Amoxilin, Aspirin and Paracetamol.