Iran's Food and Drug Administration chief stated on Sunday that approximately two-thirds of the country's medicines have undergone two rounds of price hikes since March 21.

Mehdi Pirsalehi attributed the rising drug costs to increases in raw material, transportation, and production expenses. He noted that shipping costs for some imported medicines had soared from around $3,000 by sea freight to $30,000 after switching to air freight.

The price adjustments were implemented to prevent pharmaceutical companies from operating at a loss, he added. Pirsalehi confirmed that Iran has allocated $4.5 billion in foreign exchange for purchasing medicines and medical equipment this year, with $1.3 billion already disbursed at subsidized exchange rates.