Health minister says no decision yet on medicine price in Malaysia amid US hike
PUTRAJAYA, Jan 26 — Health Minister Datuk Seri Dzulkefly Ahmad today emphasised the importance of transparency in drug pricing following news reports that several US pharmaceutical firms will be raising the price of more than 500 medicines from this month.
He said that the government is actively considering the implications and discussing the matter.
“We have not made any decision but there must be clear and transparent price transparency so that the buyer or user has the right to make an informed choice,” he told reporters after his 2024 mandate speech at the Health Ministry here.
“They will have the ability to compare prices, which is the most important thing,” he added.
On December 29, Reuters reported that major drug manufacturers such as Pfizer, Sanofi, and Takeda Pharmaceutical were planning to increase prices on more than 500 drugs in the United States.
Data analysed by healthcare research firm 3 Axis Advisors indicated that, excluding different doses and formulations, over 140 brands of drugs are expected to witness price hikes this month.
According to the news portal, these potential price increases coincide with the pharmaceutical industry’s preparation for the Biden Administration’s publication of significantly discounted prices for ten high-cost drugs in September.
Additionally, the industry continues to grapple with the impact of higher inflation and manufacturing costs.
