Ensure accountability for rising medicine prices

In Bangladesh, when the prices of potatoes or onions rise, there is widespread criticism, but the same level of discussion does not take place when the prices of medicines increase. The reason for this may be that medicine is not an essential commodities for everyone, and not all medicines are applicable to everyone. Therefore, when the price of a specific medicine rises, not everyone knows about it at once. As a result, there is little discussion about rising medicine prices. However, the price of medicine continues to increase steadily in the background. There are no proper regulations in place to address this issue.

The pharmaceutical companies' whims play a significant role in this. Moreover, Bangladesh has had a long-standing culture where, for any product, buyers and sellers negotiate prices, except in the case of medicines. When the price of medicine is announced, the buyer is almost compelled to pay, leading to a sort of chaos in the pharmaceutical business in the country.

As reported in today's (30 November) newspaper, the prices of over fifty life-saving medicines have once again increased. In the past three months, the prices of some medicines have risen by up to 110 per cent. Allegations have been made that the manufacturing companies have ignored the regulations set by the regulatory body, the Directorate of Drug Administration, while raising prices. Experts point out that, with people already struggling to afford essential commodities, they are now forced to cut back on food items to cope with the rise in medicine prices. In the long run, this could lead to nutritional deficiencies, particularly among women and children in families.

The lower and middle-income groups will have to pay the increased prices for medicines at the cost of their lives. Although officials from pharmaceutical companies claim that the price adjustments were made due to increases in fuel and dollar prices, data reveals that the government set the prices for 117 essential medicines. For other medicines in the market, most of them are sold at prices fixed by the manufacturing companies. However, these companies have to adhere to certain procedures, including applying to the Directorate of Drug Administration for approval along with justifications for new prices.

The government coordinates with the Ministry of Health through meetings to verify various aspects such as the source country, price, and quality of imported raw materials. However, several officials from the Directorate of Drug Administration have stated that, as in previous years, companies have not adhered to these regulations this time either. In most cases, the prices have been implemented in the market before seeking approval. Moreover, large manufacturing companies put constant pressure on the government from the start. Due to the lack of capacity to set reasonable prices, the Directorate of Drug Administration has been forced to accept the price hikes.

While common people are already struggling to purchase daily necessities, the rise in medicine prices is causing them even more distress. Many families are unable to buy essential medicines while trying to meet their daily needs. It is heartbreaking to know that people are suffering from illness but cannot afford the medication to cure it. Former Deputy Director (Legal) of the Directorate of Drug Administration, Nurul Alam, called the new price hikes unjustified. He stated, “Some companies have raised prices by up to 110 per cent, but has the production cost really increased this much? In reality, this sector has no accountability."

The companies are reportedly showing raw materials imported from Sri Lanka, while in reality, they are sourcing them from China. Even though once they may have imported from Europe, for years they have been presenting raw materials from other countries as their source. The Directorate of Drug Administration is supposed to oversee such matters, but they too remain indifferent. We demand that the government pay closer attention to the pharmaceutical companies, put an end to their monopolistic trade practices, and hold them accountable for the justification behind any price hikes in medicines.