AGP Limited, a Karachi-based pharmaceutical company, has warned to export the 50,000 doses of the Russian Coronavirus vaccine, Sputnik V, in case the government fails to revise the retail price of the vaccine.
Being the sole distributor of Sputnik V in Pakistan, AGP Limited has termed the government-approved prices as ‘unacceptable’ and has reportedly refused to sell the Russian vaccine at the retail price fixed by the government.
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Last week, AGP Limited received the first consignment of the Russian COVID-19 vaccine, Sputnik V, consisting of 50,000 doses at the Jinnah International Airport in Karachi.
On the recommendation of the Drug Regulatory Authority of Pakistan (DRAP), the federal government recently announced that the two-dose Sputnik V will cost Rs. 8,449. Whereas the four-dose pack of Sputnik V will cost Rs. 16,560, the 10-dose pack will be available at Rs. 40,555, and the 20-dose pack will be priced at Rs. 81,110.
However, AGP Limited has raised objections over the prices of different packs of the Russian vaccine fixed by the federal government and has threatened to export the 50,000 doses if these retail prices are not revised.
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Note that DRAP had devised two formulas for maximum retail prices of imported COVID-19 vaccines with a 40% mark-up for companies and an additional 15% for hospitals and laboratories.
Under the first formula, imported vaccines in the finished form will be priced equal to the landed cost plus a 40% mark-up. Under the second formula, imported vaccines in bulk form and local repacks will be priced equal to landed cost plus packaging cost and 40% mark-up for companies.
Via: Geo News
So the vaccine importer thinks 40% profit is not enough?