COST OF LIVING/Price of painkiller Panadol to increase in July

Taipei, June 21 (CNA) The price of Panadol, an over-the-counter painkiller, will increase by NT$10 (US$0.30) to NT$15 per box, effective from July, the Grassroots of Taiwan Pharmacists’ Association (GTPA) said on Friday.

According to the brand's drugmaker, the hike is in response to the rising price of raw materials and increased transportation costs, GTPA chairperson Shen Tsai-ying (沈采穎) told reporters at a media event.

Panadol is one of GlaxoSmithKline's trade names for paracetamol or acetaminophen, a non-opioid analgesic and antipyretic agent used to treat fever and mild to moderate pain.

With the price hike, Shen anticipates other major drugmakers will follow suit.

People looking to buy painkillers often choose Panadol at their local drugstores but do not have to stick to a certain brand, she said, pointing out other brands that contain acetaminophen but are not big on marketing usually cost 50 percent less.

According to Shen, the Panadol price hike does not impact the National Health Insurance's pricing policy.

The association chairperson said she has not heard of other companies looking to hike the price of their drugs next month, but with increases in Taiwan's electricity rates and the salary of pharmacists, local consumers will likely have to pay more for medicine in the future.