DRAP seizes stocks of 226 medicines on overpricing
ISLAMABAD: 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, ARY News reported.
According to the regulator’s spokesperson, it took action against firms on overpricing in Lahore, Peshawar and Karachi. Stocks of 226 medicines belonging to 59 pharma companies was 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.
Earlier, on March 6, 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.
He said the government had decided to introduce an online system through which people would be able to verify the prices of medicines.