Why has the price of paracetamol tablets increased?
5th June 2020
Update- our purchasing pharmacists have managed to source a cheaper supplier of paracetamol tablets so we are now able to reduce the retail price of 32 tablets to 70 pence.
27th March 2020
Kamsons Pharmacy is against profiteering, particularly so in the current Covid-19 pandemic when our staff along with other health workers are at the frontline everyday dealing with sick, worried and concerned patients.
The price of paracetamol has rocketed and our loyal customers deserve an explanation.
On 18th March 2020, nearly all of our pharmacies sold out of all stocks of paracetamol as thousands of people bought them before the expected “lockdown” and self-isolation for many. Our buyers have been working tirelessly to source more stock.
Many other pharmacies and retailers remain out of stock.
After much effort, our buyers were able to source more stock but the wholesale price had increased massively. Our Directors were minded not to buy it as they did not want to be accused of profiteering but did so because they feared we may not be able to find any more to replenish our pharmacies. The level of the increase was far too much to be able to absorb.
It has therefore unfortunately been necessary to pass this increase onto our customers.
The following news articles explain some of the reasons:
4th March 2020 BBC News website: Coronavirus: Drug shortage fears as India limits exports
This article explains that India, one of the major manufacturing nations of medicines, has imposed an export ban on paracetamol. Due to the Covid-19 lockdown in China, the raw ingredients have become difficult to source.
Note that India is not alone. The United Kingdom has also imposed an export ban on some medicines as well.
12th March 2020 The Guardian website: coronavirus-triggers-sharp-rise-in-price-of-pain-relief-medication
This article explains that even before Covid-19 had much impact in Britain, that the wholesale cost of paracetamol was rising.
25th March 2020 Which Magazine online : Coronavirus and medicine shortages: what’s going on?
Which magazine gives a good overview of the various factors influencing shortages and price increases of medicines.
25th March 2020 Daily Mail online: Pharmacists urge UK drug firms to start manufacturing paracetamol in Britain – not overseas – as desperate shoppers strip shelves bare and retailers warn they will sell out by SATURDAY
This online newspaper article explains how the impact of China’s inability to produce the raw ingredients and India’s export ban might lead to a multinational chain of pharmacies having no paracetamol.
Please be assured that Kamsons Pharmacy has only increased the price due to the high wholesale prices charged as a direct result of the worldwide shortage. Our buyers are committed to trying to source medicines for our patients throughout this pandemic.