Making business humane way

All businesses have a natural propensity for maximising profit. And such an urge is rather universal. So, there should be no reason for anybody for developing an aggrieved feeling if pharmaceutical companies in Bangladesh demonstrate their love for maximum possible profit.
Of late, the drug manufacturers here have been hiking the prices of most of their products, particularly those of the officially recognised non-essential ones, indiscriminately. Over the last one year, the prices of some otherwise widely demanded so-called non-essential drugs have gone up 100 per cent. It appears that drug companies are in a rat race to increase some of their medicines on the plea of higher cost of production.
Despite a number of reports in both print and electronic media, the authorities concerned have not felt the need for initiating any effective move, on the ground that the price control mechanism is not applicable in the case of non-essential drugs.
The leading drug manufacturers, apparently, have been hiking the prices of their products through an understanding between themselves. It has been observed that the supply of certain drugs to the market dwindles without any explanation from the leading manufacturers. All on a sudden a company hikes the prices of the same and others follow suit. As soon as the revised rates are made effective, the supply of the medicines becomes normal.
The small and mid-level companies rather unwillingly up the prices of their medicines putting themselves even more at a disadvantageous position in the market. This is again depriving the poor consumers of a benefit.  
What is, reportedly, irritating the consumers more is the hike in the prices of some 'essential' medicines because of their short supply in the market. Patients are now paying 60 to 100 per cent more for some of the essential drugs.
A report published in the FE recently said drug companies are becoming increasingly disinterested in producing 'essential' drugs since those did not fetch them profit to their liking. The demand-supply gap in case of essential drugs is estimated to be 40 per cent, which is substantial to encourage retailers to increase prices of these medicines.
The manufacturers are now producing the essential drugs in lesser volume, thus, creating short-supply of the same in the market. This unwanted development has led to the increase in the prices of essential drugs, numbering only 117 out of nearly 1400 generic pharmaceutical products now in use in Bangladesh.
An official in the Drug Administration (DA) told the FE reporter concerned that the drug manufacturers were not heeding to the government directive to beef up production of essential drugs.
While the drug companies are enjoying freehand both in production and price-fixation in the case of nearly 1300 medicines, it should be a moral obligation on their part to ensure sufficient production and availability of essential medicines at affordable prices.
In case of any defiance, the government should take appropriate actions against the errant drug company. The drug manufacturers need to keep in mind they are not engaged in the production of cosmetics or toiletries. Their products are being used to treat sick people and save valuable human lives.
Moreover, the availability of some essential medicines, which are not produced locally and, at the same time, the import of which is now allowed, remains a major problem.  This has led to widespread smuggling of these medicines and some big hospitals are, reportedly, dependent on smuggled drugs.
Besides, there are some medicines, officially on the list of essential drugs that are now outdated and not prescribed by most physicians. They need immediate replacement.
So, the prevailing situation calls for a thorough review of the official list of essential drugs, their production, supply and price. If necessary the list would have to be enlarged and the local drug manufacturers, be asked to produce and supply all the essential drugs adequately at prices affordable to the common man. And the DA needs to show its biting teeth in case of any defiance.
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