Prices of over 800 essential medicines including painkillers, antibiotics and anti-infectives are set to see a minuscule increase from April 1.
In line with the annual change in the wholesale price index, the government is set to allow a .0055% increase in prices of drugs under the National List of Essential Medicines, NLEM.
After massive annual increases of 12% and 10% in prices on record last year and in 2022, this will be a bmeager increase for the pharma industry. The adjusted prices will cover more than 800 drugs on the NLEM.
The essential drugs include paracetamol, antibiotics such as azithromycin, anti-anemia medicines, vitamins and mineral. Some drugs used for treating moderately to severly ill Covid-19 patiens and steroids are also on the list.
According to industry experts, over the last few years, prices of some key active pharmaceutical ingredients have increased between 15% and 130%, with the price of paracetamol jumping 130% and that of excipients increasing 18-262%.
Earlier, a lobby group that represents more than 1,000 Indian drug makers also urged the government to allow prices of all scheduled formulations to be increased by 10% with immediate effect. It had also sought a 20% increase in the prices of non-scheduled drugs.However, an executive associated with an NGO said this will be a respite after the last two major hikes.