Despite duty cut, prices of some life-saving drugs remain same
Jasim Uddin Haroon | Monday, 21 July 2008
Prices of drugs administered for respiratory diseases remained unchanged in the local market despite a significant cut on the import duty of the items.
The government reduced the duty on import of life-saving and critical drugs to 7.0 per cent from 25 per cent for the fiscal year 2008-09.
Earlier, the finance adviser in his budget address said reduction of import duty will make such medicines available in the local market at cheaper price. There are millions of asthma and similar patients in the country.
Shahidul Islam, a resident of Mirpur, who has been suffering from respiratory problems for the last 10 years, told the FE that he became happy after the budget speech, but was disappointed when the prices of inhalers did not decrease.
While visiting drug stores at Shabagh, Mitford and Dhaka Medical College area, it was found that most of the imported inhalers were being sold at previous prices.
Two local pharmaceutical companies manufacture drugs for asthma and similar patients while about half a dozen popular brands are imported from abroad.
Square Pharmaceuticals produces Sulprex which is sold in the market for Tk 225 while Beximco Pharma's Asthmasol for Tk 110 - both companies retaining their previous prices.
Among the popular imported drugs Ventolin is selling at Tk 180 and Seritide at Tk 1116.70 up by Tk 86 from its previous price.
Shamsur Rahman, a product executive of Glaxosmithkline, told the FE that they raised the prices of Seritide due to the price hike of the same in the international market.
"Our import has become costlier. For this reason, we increased the prices of the item since July 1," he added.
Another official working at a local pharmaceutical company said the reduction in import duty will not have any impact on the selling price unless the government re-fixed it.
While talking to the FE, Nazmul Hasan, general secretary of Bangladesh Association of Pharmaceutical Industries (BAPI) said the drug manufacturers do not set the selling prices - it is fixed by the drug administration.
The government reduced the duty on import of life-saving and critical drugs to 7.0 per cent from 25 per cent for the fiscal year 2008-09.
Earlier, the finance adviser in his budget address said reduction of import duty will make such medicines available in the local market at cheaper price. There are millions of asthma and similar patients in the country.
Shahidul Islam, a resident of Mirpur, who has been suffering from respiratory problems for the last 10 years, told the FE that he became happy after the budget speech, but was disappointed when the prices of inhalers did not decrease.
While visiting drug stores at Shabagh, Mitford and Dhaka Medical College area, it was found that most of the imported inhalers were being sold at previous prices.
Two local pharmaceutical companies manufacture drugs for asthma and similar patients while about half a dozen popular brands are imported from abroad.
Square Pharmaceuticals produces Sulprex which is sold in the market for Tk 225 while Beximco Pharma's Asthmasol for Tk 110 - both companies retaining their previous prices.
Among the popular imported drugs Ventolin is selling at Tk 180 and Seritide at Tk 1116.70 up by Tk 86 from its previous price.
Shamsur Rahman, a product executive of Glaxosmithkline, told the FE that they raised the prices of Seritide due to the price hike of the same in the international market.
"Our import has become costlier. For this reason, we increased the prices of the item since July 1," he added.
Another official working at a local pharmaceutical company said the reduction in import duty will not have any impact on the selling price unless the government re-fixed it.
While talking to the FE, Nazmul Hasan, general secretary of Bangladesh Association of Pharmaceutical Industries (BAPI) said the drug manufacturers do not set the selling prices - it is fixed by the drug administration.