After massive annual increase of 10% and 12% in prices on record last year and in 2022, this will be a meagre increase for the pharma industry. The adjusted price will cover more than 800 drugs on the National list of Essential Medicine. Price changes for scheduled drugs are allowed one a year.
Prices of essential medicines including painkiller, antibiotics, and anti infectives are set to see a minuscule increase in April 1.
In line with annual change in the wholesale price index (WPI), the government is set to allow a 0.0055% increase in price of drugs under the National List Of Essential Medicine (NLEM).
After massive annual increase of 12% and 10% in price record last year and in 2022, this will be a meagre increase for pharma industries.
The list of essential medicines includes drugs like paracetamol, antibiotics such as Azithromycin used to treat bacterial infections, anti anemia medicine, vitamins and minerals. Some drugs used for treating moderately to severely sickened COVID 19 patients and steroids are also in the list.
The industries had been demanding a substantial increase in prices as it has been battling rising input costs.
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 increase 18-262%.
Glycerine and propylene glycol solvents used in every liquid preperation including syrups , oral drops and sterile preperations has become costlier by 263% and 83%, respectively. Prices of intermediates have also increased between 11% and 175%. Penicillin G has become costlier by 175%.
Earlier a lobby group that represents more than 1000 Indian drug makers also urged the government to allow prices of all scheduled formulations to be increased by 10% with immediate effect. It has also sought a 20 percent increase in the prices of non scheduled drugs.
However, an executive associated with an NGO said that this will be a respite after the last two major hikes.
“Drastic hikes distort price controls, after witnessing two massive hikes back to back , this will be a good move in the intrest of maintaining the affordability of these drugs ” said the executive.
