Regulating the Unregulated: Competition Law as a Tool to Combat High Drug Prices in Pakistan

Abstract

Current prospects of the industry indicate that Pakistan has considerable problems in controlling drug prices in the pharmaceutical industry that are thus potentially inaccessible to its population. It reveals that high price and anti-competitive behaviors are still endured by customers while competition law exists, especially due to monopoly, cartel and ineffective regulation. In the current research it has analyzed the function of competition law in relation to too high-priced drugs in the context of Pakistan. Using the data based on the analysis of the legal regulation, historical evolution, and cases, the study determines the shortcomings in existing legislation and regulation that facilitate the possibility of price manipulation. It also looks at the possibility of making competition law as the best way of enhancing fair price, market competition and consumers protection. The paper makes recommendations for improving the status of competition law enforcement in Pakistan and encourages policy changes, improvements in the institutional capacity of law enforcement agencies, and improved cooperation between the public and private sectors.