Pharmaceutical companies agree to reduce price of fever pill

Pharmaceutical companies Wednesday agreed to reduce the price of a 500mg fever tablet to Rs2.35.

The development came after Finance Minister Ishaq Dar met with the heads of pharmaceutical companies in the federal capital. During the meeting, the price of the fever pill was reviewed.

According to the finance ministry, pharmaceutical companies have agreed to decrease the price of a single fever tablet to Rs2.35. The ministry added that it has also decided with the companies to set the price of one fever syrup bottle at Rs177.60.

Following the meeting, the ministry said that companies making these medicines have resumed production.

Minister for National Health Services, Regulations, and Coordination Abdul Qadir Patel has said that GlaxoSmithKline (GSK) Consumer Healthcare Pakistan has resumed its manufacturing and supplying of Panadol in Pakistan.

Speaking with journalists in Islamabad, the minister denied reports citing the suspension of Panadol products from GSK in Pakistan and clarified that the company has not stopped the production.

“We want to facilitate the pharmaceutical industry in the country, and the pricing issue of medicine is being discussed with the relevant quarters.”

A few days ago, Pakistan was expected to witness a worsening medicine crisis after GSK announced to stop the production of all Panadol products, saying the company is facing heavy financial losses.

The pharmaceutical company declared force majeure and stopped the production of Panadol tablets, Panadol Extra tablets and Children’s Panadol Liquid range, citing losses in the production due to an increase in the price of paracetamol raw ingredients.

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