Achi news desk-
NPPA has approved an annual change of 0.0055% increase in drug prices under the National List of Essential Medicines
On April 1, the prices of several essential medicines will increase, albeit by a small amount. The list of these drugs that are going to become more expensive includes painkillers, antibiotics and anti-infectives.
The National Pharmaceutical Pricing Authority (NPPA), the pharmaceutical pricing regulator has approved an annual change of 0.0055% increase in drug prices under the National List of Essential Medicines. This is done in accordance with the annual change in the wholesale price index.
“Based on the WPI data provided by the Office of the Economic Adviser, Ministry of Industry and Internal Trade Ministry of Commerce and Industry, the annual change in WPI works out to be (+) 0.00551% during the calendar year 2023 during the corresponding period in 2022,” the statement issued by The NPPA.
The industry, on the other hand, found nothing to encourage since the increase seems really small against a background of price increases of 12% and 10% in 2023 and 2022. Scheduled drug manufacturers are allowed to change prices once a year.
The new prices will extend to over 800 drugs on the national list of essential drugs.
According to the media, the list of essential drugs includes drugs such as paracetamol, antibiotics, steroids, vitamins, anti-anemia drugs and minerals. Some drugs used to treat moderate to severe Covid-19 patients are also on the list.
The industry is crying out for a significant increase in prices since it has to deal with the increase in the cost of inputs. Over the past few years, the prices of some key pharmaceutical active ingredients have soared between 15% and 130%. For example, industry representatives claim that the price of paracetamol has increased by 130% and the excipients have become more expensive by 18-262%. Glycerin and propylene glycol, which are commonly used as solvents in liquid preparations including syrups, oral drops and sterile preparations, experienced a price increase of 263% and 83% respectively. The prices of intermediate materials also rose between 11% and 175%. Penicillin G has become 175% more expensive, industry representatives told media outlets.
A pressure group representing over 1,000 pharmaceutical manufacturers urged the government to allow a 10% price increase for planned drugs and a 20% increase in the prices of non-planned drugs.
Published: March 29, 2024, 11:26 IST
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