Prices of 800 essential medicines will go up from this April. National Pharmaceutical Pricing Authority (NPPA) has allowed a price rise of 10.7% for all scheduled drugs placed under the National List of Essential Medicines (NLEM).
Medicines used to treat common illnesses like Paracetamol, Antibiotics like Azithromycin, Ciprofloxacin, Anti-Anaemia medicines, Vitamins, Minerals, Painkillers, Anti-infective drugs, and Steroids for supportive treatment in moderate to severely ill Covid-19 patients will see a price hike.
On Friday, the NPPA notice read, “Based on the WPI data provided by the office of the Economic Advisor, Ministry of Commerce and Industry, the annual change in WPI works out as 10.76607% during the calendar year 2021 over the corresponding period in 2020.”
India’s Drug price regulator, NPPA, allows a price rise for scheduled drugs every year. In November, a lobby group of Indian Pharmaceutical companies pleaded with the Government to allow a 10% hike in prices for scheduled drugs and 20% for all non-scheduled drugs.
Due to the Covid-19 pandemic, supply constraints, and increase in the Wholesale Price Index (WPI), the Pharma industry has been facing an upsurge in input costs. Now, the decision by the Government must come as a reprieve for them. However, the common man may have to shoulder the burden of price rise yet again.
Reference: The Economic Times, Ministry of Statistics and Programme Implementation.