Some of the companies that import medicines and medical equipment have suspended selling their products since July 26, causing prices to rise double in the local market, according to local sources. 

“I buy medicines and under-pads required for my mother from a company every month. When I made a phone call for next month’s order, the company said their sale had been closed. They don’t know exactly when they can sell their products again,” said a regular customer.

The sales manager of a drug importer company said their company had also closed its sales.

“When the market reopens, I think prices may increase by about 45%,” the manager commented.

Most of western medicines have increased by about K500 to K1,000 per pack of tablets while some other kinds of medicines are in short supply.

The owner of a pharmacy in Dawbon Township, Yangon, said: “The companies themselves have increased prices of many medicines and medical equipment. Some increased due to a short supply.”

The government has announced that drug importers can apply for import licenses if they are to make direct payments to their buyers.

Price hikes in the local drug market have reportedly resulted from delayed or no issuance of import licenses, high dollar exchange rate and drug companies hesitant to distribute their remaining stocks.

Reports however say that hundreds of containers holding shipments of medicines and medical equipment have already arrived at the international port, but importers do not have a chance to withdraw them because they have not received their import licenses yet.

During a press conference in Nay Pyi Taw on July 2, an official from the Ministry of Health called for correct sales of medicines and medical equipment that remain in stock in the public interest despite a bit high prices.