Concerns about the increase in price of medicines again

When the formidable Soviet Union and the countries of Eastern Europe were gripped by Perestroika in the 1990s, the impact of those upheavals resonated from one corner of the world to another. At that time, Cuba was one of the few countries that survived the perestroika’s impact and still exists. However, it was expected that Cuba would be at the very beginning of the list of captured countries one after another in Europe. This expectation was plausible because the country is situated just ninety miles away from the United States.

Cuba's journey and the story of overcoming obstacles are also fascinating. I have traveled to Cuba in collaboration with Cuban researchers on the promising new drug 'Nasvax' for Hepatitis B virus. While there, I have heard the story associated with it. The challenge was immense, but the resources were very limited. Among the advisers, there were diverse opinions, and Fidel Castro decided in a manner consistent with his own views. Almost the entire five billion was spent on health and tourism. Castro's strategy was straightforward. The revolutionary people of Cuba would not object to enduring shortages in their daily necessities, but if healthcare services were not assured, they might be willing to take a stand. In tourism, long-term investment will yield fruitful results. Castro, with his multifaceted approach, demonstrated another example of 100% success in his domain.

Certainly, I have reasons to say all these things. The newspaper is reporting that the prices of medicines are set to increase once again in the country. Currently, there are more than 27,000 life-saving medicines produced by over 1,500 brands in the country, and they are available in the market. The determination of prices for 117 essential medicines in this country is under the control of the government, while the prices of the remaining products are in the hands of the manufacturing companies. In this country, some unscrupulous businesspeople form syndicates to continuously compel the general public to accept the prices of certain goods. However, the scenario in the pharmaceutical market is not exactly the same. Here, indeed, unscrupulous businessmen can attempt to influence the prices of medicines; however, in many cases, the final decision lies with the government's Drug Administration Department.

Our pharmaceutical industry is bound to some degree in this area for the approval, manufacture and export of their products. The price of medicine in this country is determined after various discussions and analysis. Therefore, this issue is often highlighted in the media. Once again, there haven't been any deviations in the process.

Therefore, we can assume that when the market prices of medicines are rising again, there are logical reasons behind it after all these considerations. While congratulating the Prime Minister's re-appointed Adviser on Private Industry and Investment, the country's pharmaceutical industry executives have expressed their desire to increase the price of medicines. However, we all know the arguments behind this. The increase in the price of pharmaceutical raw materials in the international market and the Dollar crisis in the country are fundamentally the basis for their demand. However, they have also presented several counterarguments, which are not unknown to us. When the price of raw materials increases, we often witness an effect on the prices of the manufactured goods in our country. However, what we may not see is that when the price of raw materials falls, the prices of the final products do not necessarily decrease.

The discussion revolves around the topic of paracetamol. Despite the international market experiencing a decrease in the price of paracetamol's raw materials, it hasn't had any impact on the prices of paracetamol from any brand in the country's market. However, a few days ago, the price of paracetamol had increased by almost fifty to a hundred percent. Similar situations have occurred with medications such as amoxicillin, metronidazole, diazepam, aspirin, medications for high blood pressure, gastric issues, diabetes, and antibiotics. The prices of these medicines have recently increased by 10-75 percent.

The reality is, emotions don't always follow logic, the heart doesn't always rule the brain. Sick people want health, want to live. A person may choose to abstain from certain foods, eliminate items like onions, peppers, potatoes, etc., from their diet, and find joy in the process. However, it is not easy to accept when an ailing family member has to be kept without treatment due to the cost of medicines. The problem is that what a revolutionary leader like Fidel Castro understood in the 1990s, today the people-friendly businessmen who are leading from the front to create a smart Bangladesh, often do not understand, or not actively seeking it.

Author: Professor and Division Head, Interventional Hepatology Division, Bangabandhu Sheikh Mujib Medical University