Nepal pharma lobby pushes for price hike citing rising costs
Summary
Nepal's pharmaceutical companies are seeking to raise medicine prices due to a sharp rise in raw material costs, US dollar value, and transport fares, while regulatory authorities express concern over the impact on patients.
Key Points
- Pharmaceutical companies in Nepal request a 10 percent hike in medicine prices citing increased raw material and transport costs.
- The Department of Drug Administration refuses immediate approval, citing the impact on patients and current economic hardship.
- Raw material prices, including those for paracetamol and metformin, have risen sharply due to geopolitical tensions and supply issues.
- Nepal has 83 domestic drug manufacturers producing nearly half of the country’s medicines, with the pharmaceutical sector employing over 30,000 people.
