Ivermectin prices have doubled over the past few days after public officials claimed that the ringworm drug could treat COVID-19, an assertion that has been refuted by medical experts and the World Health Organization (WHO).

At Pasar Pramuka, a market for medical goods in Jakarta, generic Ivermectin prices were between Rp 300,000 (US$20.72) and Rp 350,000 per 20-tablet bottle in June, twice the government-set price of Rp 157,700 per bottle, including tax.

On e-marketplaces Tokopedia and Shopee, Ivermax 12, a brand-name version of Ivermectin, was selling for up to Rp 600,000 per 10 tablet strip as of June 30, twice the usual price of Rp 265,000 per strip. Ivermax 12 is not subject to government price regulations.