Price of 33 Essential Medicines Reduced

Essential Drugs Company Limited (EDCL), which produces around 140 types of medicine, has reduced the prices of 33 essential drugs.

The prices have been cut by up to 50%, with the list including vital antibiotics, and medicines for pneumonia, colds, high blood pressure, gastric ulcers, deworming, pain relief, asthma, and vitamins.

This information was revealed through an analysis of documents from the company's production department. The prices of five more drugs may be reduced next week.

According to company officials, this is the first time the price of medicines has been lowered since the company's establishment.

According to EDCL's drug registration records, the price of Montelukast tablets for asthma prevention has been reduced from 10.67 taka to 5 taka. The price of Omeprazole capsules, used for stomach acid secretion, has been cut by 5 paisa to 2.70 taka.

The price of Ketorolac vials, a pain-relief injection, has dropped from 30 taka to 23 taka. The price of Ondansetron injection vials, used to prevent vomiting in cancer chemotherapy, has been reduced by 3 taka. The price of Ceftriaxone injections for bacterial infections has been lowered from 115 taka to 90 taka.

Ceftazidime injections, used for pneumonia, have been reduced from 150 taka to 100 taka, and Ceftriaxone injections for respiratory infections have been cut from 175 taka to 160 taka. The price of Cefuroxime injections has dropped by 10 taka.

The price of Esomeprazole injections for gastric acid secretion has also been reduced by 10 taka. Meropenem's price has been cut from 450 taka to 343 taka, and Omeprazole injections have been reduced from 64 taka to 52 taka.

Furthermore, out of 32 medicines listed for primary healthcare in rural clinics, the prices of 22 have been reduced. The price of Antacid tablets for gastric issues is now 68 paisa, Paracetamol tablets are 1.11 taka, and Salbutamol tablets are 17 paisa.

Albendazole tablets have been reduced by 1 taka, while Chloramphenicol eye drops and Paracetamol suspension have each been reduced by 3 taka. Amlodipine tablets are now 2.31 taka, down from 2.50 taka, and Metformin tablets have been reduced from 3.25 taka to 2 taka.

According to public health experts, this is a positive initiative. They argue that if EDCL can lower medicine prices due to reduced production costs, private companies should also be able to do so. If the government can facilitate this, it would benefit the general public and the government alike.

Samad Mridha, the Managing Director of EDCL, stated that the price control was a joint initiative of the Ministry of Health and EDCL.

The primary reason for the price drop is that breaking up previous syndicates in the procurement process has led to a greater number of bidders participating in tenders with competitive prices, enabling the company to purchase raw materials at a lower cost. 

Additionally, increased working hours and efficiency have resulted in 59 crore taka more in medicine production compared to the previous year, while production costs have decreased by 30.67 crore taka. He added that the prices of other EDCL-produced medicines will be reduced gradually.

Dr. Md. Jakir Hossain, Secretary-General of the Bangladesh Association of Pharmaceutical Industries and Managing Director of Delta Pharma Limited, said that it is not possible to compare a government-owned company with private ones.

He explained that EDCL does not incur marketing costs for its medicines, nor does it have to spend money on producing new drugs and raw materials, as its buyers are predetermined.

Therefore, while EDCL can reduce prices due to lower raw material costs, other companies may not be able to do the same.