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CAB for reducing prices of lifesaving drugs

The Consumers Association of Bangladesh (CAB) on Wednesday requested the government to reduce the price of lifesaving drugs to ease the burden of consumers who were already reeling from high prices of goods from inflation.

The Directorate General of Drug Administration (DGDA) approved a proposal from some pharmaceutical companies to hike prices of different medicines by three to four times without following due procedure, the platform claimed at a virtual briefing to protest this.

Presided over by CAB President Ghulam Rahman, the briefing was addressed by its senior Vice-President Prof M Shamsul Alam, Vice-President SM Nazer Hossain and General Secretary Humayun Kabir Bhuiyan.

Rahman said the DGDA submitted documents to the Ministry of Health and Family Welfare for approval of increasing medicine prices hiding the objection from CAB.

“By doing so, the government has defied consumer rights at a time when people are going through a tough time because of excessive food inflation,” he also said.

Referring that the drug prices were increased by three to four times than the production cost, he said, “The government order of 1994 that allowed pharmaceutical companies to hike prices of their own products without prior approval must be abolished.”

Rahman also informed that the government has declared around 219 medicines under the category of essential drugs of which the pharmaceutical companies need prior approval for price increase of 117 medicines.

Because of such indemnity, a syndicate of drug makers raised medicine prices indiscriminately ignoring consumers’ welfare, CAB president said.

CAB also placed some recommendations to stabilize drug prices – ensuring accountability while setting medicine prices, preventing DGDA from approving drug prices alone, being more responsible in securing consumer rights, concentrating more on medicine quality before increasing prices, among others.

Meanwhile, at retail level drug stores, CAB observed that prices of different medicines have increased by at least 13-75% in the last six months.

Essential drugs like paracetamol syrup saw the biggest jump in price by 75% while tablets hiked by 20-33%.

Besides, DGDA on Tuesday approved a proposal by a pharmaceutical company to increase prices of 24 medicines.

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