New Delhi (India), 29th March 2023: The cost of critical medications like painkillers, anti-invectives, antibiotics, and cardiac medications will increase by 12% starting on April 1. The decision was made by the National Pharmaceutical Pricing Authority (NPPA).
According to reports, a price increase is anticipated for 384 molecules, which equate to roughly 900 formulations across 27 therapies. There would be a 10% annual increase for non-scheduled medications that don’t fall under essential medicines.
The price increase was permitted, as announced by the federal government, because the wholesale price index (WPI) showed an annual shift of 12.12% in 2022. Every year, necessary drug prices are updated based on the index.
The WPI underwent a yearly change of 10.76% last year, according to the NPPA. The makers of about 500 drugs did, however, lower their prices as a result of the central government’s intervention to lessen the impact of the price increase.
According to reports, the manufacturers told the government that the industry had been negatively affected by the increase in raw material prices. The Centre subsequently approved the price increase.
Patients, particularly those with numerous illnesses and those with lifestyle diseases like diabetes, high blood pressure, heart disease, and obesity, have experienced a significant setback as a result of the price increase.
