South Africa: Drug Companies Disappointed By Low Price Rise

Pharmaceutical companies will be allowed to hike their private sector prices by a maximum of 5.8% this year, the Department of Health announced on Tuesday (22 January) - a move that is likely to disappoint the local manufacturing industry.

Last year Adcock Ingram's chief executive Jonathan Louw said local manufacturers expected that the formula used by the department would yield price increases of about 7.14%, but industry ideally needed a "close to double digit increases" to counter the effects of the depreciation of the rand and the sharp increase in utility costs.

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