Materia Medica Malaysiana

Weaker US dollar leads to higher medicine prices

PETALING JAYA: The depreciation of the US dollar will have an “indirect effect” on the price of medicines and health supplements if American manufacturers import raw materials from countries with currencies which have appreciated against the greenback.

Boehringer Ingelheim general manager (Malaysia/ Singapore/ Brunei) Tan Ki Sing said main currencies like the euro, Swiss franc, sterling pound and Australian dollar were becoming stronger.

“Therefore, the cost of products would be higher if manufacturers imported raw materials from European countries and Australia.

“This is the reason for the increase in the price of medicines and health supplements lately,” he added.

Malaysian Pharmaceutical Society president John Chang advised consumers to switch to local products if they could not afford the imported items.

“We should support products made in Malaysia as they are also of good quality,” he said.

Fairchem Pharmacy Sdn Bhd pharmacist Elaine Khoo said the price of medicines and health supplements manufactured in the US saw the most obvious rise compared to items from European countries and Australia.

“The price of these items have increased to about 50% last month. In the end, consumers will be the ones who feel the pinch as we have no other way but to pass the cost to them.

“However, it will not affect pharmacies or consumers much as we can always switch to cheaper brands,” she said.