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South African pharmaceutical companies have asked government to approve an extra increase in medicine prices this year to compensate for a weaker rand, Aspen Pharmacare’s chief executive told Reuters on Thursday.
Local and international drugmakers asked the government for an increase beyond the 4% granted in January, said Aspen Pharmacare Chief Executive Stephen Saad.
The rand has declined 20% against the dollar since October, significantly increasing the cost of imported raw ingredients used to manufacture medicines.