The Drug Regulatory Authority of Pakistan (DRAP) reduced the price of Remdesivir drug by Rs 1,629 which is the only officially approved treatment by the United States FDA for COVID-19 patients. After the price reduction, the new price of the Remdesivir is Rs 9,244 which is a massive relief for patients battling with coronavirus.
In a notification, the DRAP stated that the cost of Remdesivir injection has been lowered by Rs 1,629, and now the anti-viral drug will be sold at Rs 9,244 all over the country.
Moreover, the DRAP also alerted the sellers that strong legal actions will be taken against those who try to sell the drug at higher than the approved price.
“At present, each injection is being sold for Rs10,873 but it has been decided to reduce the price to ensure that it would become affordable for all patients,” an official of the health ministry said last month before the federal cabinet meeting which considered the grant of exemption from section 23(1)(a)(VII) of the Drugs Act 1976 to reduce the price of the Remdesivir injection given to the Covid-19 patients.
According to the reports, the drug Remdesivir is accepted widely as an effective against novel coronavirus and the Federal Cabinet also approved the reduction in the price of the drug last month. The US based manufacturer of the Remdesivir ‘Gilead’ had also permitted Pakistan to produce the antiviral drug in the country.
As soon as the antiviral drug Remdesivir became the first and only approved treatment for coronavirus the shares of Gilead Sciences had mounted by 6%.
The United States Food and Drug Administration (FDA) supporting and showing sureness in Gilead’s U.S based study results, in which it is disclosed that the drug is able to cut time to recovery in patients, stated by Piper Sandler analyst Tyle Van.