Pakistan, June 24 -- Maximum retail prices (MRP) of 89 medicines belonging to different companies have been reduced by 15 percent.

The notification reminded pharmaceutical companies that they are bound to reduce prices of their drugs by 15% from the approved MRPs of originator brands, based on Drugs Pricing Policy 2015.

"The policy clearly says that any generic drug shall be at least 15 percent less than the MRP of originator brand," the notice read, adding that as per policy, the medicine prices cannot reach or exceed the costs of an originator drug.

The regulator directed the companies to strictly comply with the policy and reduce the medicine prices with immediate effect.

It added that the pharmaceuticals already selling generic me...