DEARER DRUGS.

Press, Volume LXVII, Issue 20420, 15 December 1931, Page 12

DEARER DRUGS.

EFFECT OF FALL IN STERLING. PRICES MATERIALLY INCREASED An increase in the prices of many of tiro-most important: drugs in the compounding of medicines is one effect of Britain's abandonment of the gold standard which will certainly be. felt in Now Zealand. Already the price of potassium iodide has advanced locally by 20, per cent., and similar, increases in many other imported drugs are considered inevitable. Chemists who were seen yesterday by The Press stated that the prices of first-quality drugs were already between 50 and 60 per cent, higher than before the Great War, and that a further advance of ?0 or 25; per cent, would be most unwelcome. Such small amounts of the' drugs arc. commonly usdd in medicines that it is often impossible to pass on the increase to purchasers, and . the chemist must meet the additional costs himself The .medicine bills of" hospitals , will be materially increased ' ' The drugs upon whic-h the increases will be most marked are those imported from beyond the British Empire or Scandinavia, that is to say, from those countries which have not followed Britain's abandonment of the gold standard. Although Britain produces many synthetic.and .vegetable drugs, she has to import . from. 1 different parts of, the world . almost .. all of the important mineral, drugs, such as bismuth, the potassium' salts, citrates, iodides, and bromides. The heavily-increased prices of these imports will no doubt encourage further synthetic manufactures within Britain, particularly since the discounted pound will give them protection in the countries of the Empire. In the meantime, however, the.advance in prices will be felt in New Zealand as much as in Britain; even more severely, indeed, because of the Dominion's higher tariffs, Many Heavy Increases. As the "Lancet"' has pointed out, even the - products of British , factories will not be immune from the increase, since they depend largely upon t im-; ported "raw materials. A notable exception is cod-liver oil which is supplied from Norway, one of the countries that has followed Britain in her ment of the gold standard. Quinine sulphate, for which the raw material comes mainly from the Dutch East Indies, is 30 per cent, dearer in Britain. lodine and its salts have been, advanced by 25 p-r cent., since the crude material is so 1 *? from Chile on the gold-dollar basis only. The price of Japanese reined camphor is fully 25 per cent, higher, and British refiners are compelled to' accept the increase. Calomel, corrosive sublimate/ and all the other salts of mercury, are much dearer than before, for the market is controlled by a Spanish-Italian understanding. Citric acid, whether of Italian or American origin, has advanced*,in price considerably, and with it all the different citrates have* risen,, of tartar is dearer-by about 25 per cent, to the British importer. Crude/drags used "in, New Zealand fomq partg' of the world. Medicinal tgri.redAhiefly' China; commodities like cascarar sdagrada, senega,, and. podophy;!lin the .Ujiited'Btatesy gentian, belladonna leaves and root, and liquorice root from < the .countries of Central Europe. The prices pf all will advance -according to the rates of exchange 'with-- the couhtries of their origin. .' Scammony ■ from, the. Eastern Mediterranean, stramonium from Germany and Hungary, and tragacanth from Persia are all dearer.' Cinchona, (Dutch Eagt Indies), and valerian (Belgium or J'apan) are others of thte many ihujtdreds'of drugs which have automatically mounted in price. ■ \i f . ' f ''•> Imports From Germany. ' Germany has been' the main source of supply of many fine chemical and ' ! m' weifc.'ai of important : min^ral ; drugs. • For all these the importer' will have to pay an ,additional 25percent. Prance" and Switzerland ; alstf siipply ;m,any fine chemicaljj, whiW of the essential; oils come from Sicily, 'America, and Japan. So long as these countries remain on the gold standard, with the pound at a heavy discount, an almost interminable list of drugs will be substantially dearer to the people of Britain and of the countries of the Empire. While cheaper grades will probably be put on the market, reputable chemists seek to avoid the use of these in the compounding of prescriptions and remedies. The chief hope at present seems to be, a substantial increase in the, range of drugs and chemicals manufactured within the Empire. ' ' EXPORTS AND IMPORTS FIGURES FOR NOVEMBER. (TJISSS iSSOCUTXOIt TEIJESKAIi ) WELLINGTON, December 14. The figures for the overseas trade of New Zealand for the month of November, 1031, as compared with November,' 1930, are as under:— Nov., 1931. Nov., 1930.' £ . £ Exports ... 2,810,270 2,394,543 Imports ... 2,059,010 2,837,826 The figures for the eleven months January-November' are as under: — 1931. 1930. £ £ Exports ... 31,814,844, 41,971,188; Imports ... 23,019,300 39,877,952 The values shown for exports are the declared f.o.b. valuep in terms of New Zealand currency.' The whole of -the imports arte valued on the basis of the values in the exporting countries plus 10 per cent. THOMAS COOK AND SON. | It is announced that the paj-tner- j ship business of Tlios. Cook and Bon has ljeen> converted into a limited liability company incorporated in England. It will carry on business in New Zealand as elsewhere under the style of Thos. Cook and Son, Ltd. j