Photo : Collected
The pharmaceutical companies in the country have been escalating drug prices under various pretexts, engaging in what appears to be a competitive hike in prices. Surprisingly, about 97 percent of the locally produced drugs are under the control of these companies. The concerning issue is the apparent silence of the regulatory body in response to this matter. It has been observed that several drug companies collaborated with the Department of Drug Administration to implement significant price hikes within just two weeks in April. The Consumers Association of Bangladesh (CAB) has recently filed a writ petition in the High Court regarding this issue. In response, the High Court directed the Director General of the Directorate General of Drug Administration to take effective measures to curb the price hike of all types of medicines.
According to experts, one of the primary reasons behind the surge in drug prices is the pharmaceutical companies' aggressive marketing strategies aimed at maximising profits. There have been complaints about companies offering various incentives to doctors to promote their products. To address this issue, it's suggested that implementing a generic name prescription rule, where all drugs are prescribed by their generic names rather than trade names, similar to practices in developed countries, could mitigate unhealthy marketing competition and significantly reduce drug prices.
Drug manufacturing companies justify the price hikes by citing reasons such as increased costs of raw materials, which have risen due to the appreciation of the dollar. While incidental factors like exchange rate fluctuations may lead to slight increases in medicine costs, the rapid rate at which prices are escalating warrants closer scrutiny.
The recent surge in medicine prices, coupled with the already rising costs of daily essentials, is causing significant distress among the population. Many individuals are now forced to forgo necessary medical treatment, pushing them towards dire circumstances. If this trend persists, it could lead to a collapse of the country's healthcare sector, despite the promising progress made in the pharmaceutical industry. While government support for the industry's development is crucial, stringent measures must be implemented to prevent drug manufacturers from unjustly profiting at the expense of public health.
Access to medical treatment is a fundamental human right, and it is incumbent upon the government to ensure that all citizens have access to affordable healthcare. To fulfill this obligation, the government should consider producing essential medicines and distributing them to consumers either free of charge or at nominal costs.
Messenger/Fameema
