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.
Pharmaceutical companies ask for further price increase
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.
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