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Panadol prices to rise by up to 10% in Taiwan from July

Reporter TVBS News Staff
Release time:2024/06/21 14:27
Last update time:2024/06/21 14:41
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Panadol prices to rise by up to 10% in Taiwan from July (TVBS News) Panadol prices to rise by up to 10% in Taiwan from July
Panadol prices to rise by up to 10% in Taiwan from July (TVBS News)

AIPEI (TVBS News) — Starting in July, the price of Panadol, a widely used over-the-counter pain reliever, will rise by 8% to 10%, Shen Tsai-ying (沈采穎), chairperson of the Taiwan General Medical Practitioners Association (中華民國基層藥師協會) announced on Friday (June 21).

This increase will add approximately NT$10 to NT$15 to the cost of each box. Shen attributed the price adjustment to a significant 11% hike in electricity rates last April, which has led many businesses, including Panadol, to reassess their pricing.

 

Shen warned that while Panadol is the first to announce a price rise, other drug increases are likely, particularly for heavily advertised medications. The ongoing COVID-19 pandemic has also spurred higher purchases of fever and pain relief medications, boosting the demand for products like Panadol.

Despite the imminent price increase, Shen assured consumers that there should not be a shortage, though he advised them to be mindful of pharmacy stock levels to prevent disappointment from panic buying.

Taiwan Business

#Panadol price increase#drug price hike#electricity price surge#COVID-19 drug demand#acetaminophen substitutes#generic drugs#pharmacy stock levels#managing fever and pain relief#alternative to Panadol#impact of electricity costs on drug prices

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