LHC turns down plea to stay hike in medicine prices

LAHORE: The Lahore High Court (LHC) on Thursday turned down a plea to issue an injunction, restraining pharmaceutical companies from hiking prices of medicine.

A bench of the high court issued a notice to Drug Regulatory Authority of Pakistan (DRAP) to submit comments on a petition challenging the recent increase in medicine prices.

Apparently, it is up to the government to check an increase in prices of medicine, observed the bench.

The court rejected the petitioner’s plea to stop the pharma companies from jacking up medicine prices until the petition is decided.

The petitioner stated before the court that the recent hike in medicine prices had added to the people’s woes. He complained to the judge that the firms had increased by 100 per cent prices of medicine and demanded that the recent hike be declared illegal.

Read Also: DRAP seizes stocks of 226 medicines on overpricing

Earlier, on Jan 11, the Drug Regulatory Authority of Pakistan (DRAP) had announced to hike prices of medicines by up to 15 per cent.

A spokesperson for DRAP had termed the hike to be in larger interest of the country and patients.

He said the increase in medicine prices was inevitable owing to various reasons. “The dollar increased by 30 per cent over the last year, which led to an increase in prices of raw material and packaging.”

The post LHC turns down plea to stay hike in medicine prices appeared first on ARYNEWS.

from Pakistan – ARYNEWS http://bit.ly/2D6gGjW

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