DRAP confiscates stocks of 226 medicines for illegal hike in prices

ISLAMABAD (92 News) – During a countrywide action against unauthorised and illegal hike in prices of medicine, the Drug Regulatory Authority of Pakistan (DRAP) claimed on Sunday to have seized stocks of 83 medicines and registered cases against 28 pharmaceutical companies. According to the DRAP’s spokesperson, it took action against firms on overpricing in Lahore, Peshawar and Karachi. Stocks of 226 medicines belonging to 59 pharma companies were confiscated. In Lahore alone, he said, pharmaceutical companies’ medicines worth millions of rupees were seized. He said the regulator has tightened its noose around firms which have illegally hiked medicine prices, adding these companies will be imposed heavy fines and cases registered against them as per the drug act. The bench issued notices to the federal, the provincial governments and the DRAP on a petition challenging the recent hike in prices of medicines. The LHC directed the respondents to submit their replies on the next hearing. In the petition, the petitioner dubbing the hike in prices of medicines as illegal said that no new formula had been determined for fixation of drugs prices. The petition also stated that without a price formula the prices could not be fixed.” The petitioner pleaded to the court to declare the DRAP notification as null and void and also order for determination of a formula to fix prices. Earlier, 143 medicines being sold at inflated rates were seized while the pharmaceutical companies involved in illegal and authorised hike in prices of medicine were fined and barred from producing medicines until further orders. Minister for Health Aamir Kiani had taken note of medicines being sold at high prices and directed the regulator to act against the pharma companies for illegally increasing the prices.