South Africa’s biggest industry association for pharmaceutical manufacturers has welcomed the government’s announcement that private-sector medicine prices may increase by up to 3.68% this year, reports Business Day. “It is significantly below what we expected, but we are sensitive to the environment we are in presently,” said Pharmaceutical Task Group chair Stavros Nicolaou, head of strategic trade at Aspen Pharmacare. The industry had hoped for an increase of about 5%, he said.
There was a perception that the pharmaceutical industry had done well during the coronavirus pandemic, but sales volumes had been “fairly flat” for the past year, said Nicolaou.
Business Day reports that the task group represents South Africa’s key pharmaceutical industry bodies. It includes the Innovative Pharmaceutical Association of SA – which represents multinational drug manufacturers – Generics and Biosimilar Medicines of Southern Africa, Pharmaceuticals Made in SA, and the Self-Medication Manufactures Association of SA.
In a notice published on the Health Department’s website, health minister Zweli Mkhize said manufacturers had until 22 February to submit applications to increase medicine prices.
[link url="https://www.businesslive.co.za/bd/national/health/2021-02-04-medicine-prices-can-rise-up-to-about-37-zweli-mkhize-says/"]Full Business Day report (Restricted access)[/link]