Essential medicine prices to rise from April 1

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Come April 1 and prices of a number of essential medicines will rise, albeit by a small amount. The list of these medicines that are set to get pricier includes painkillers, antibiotics and anti-infectives.

National Pharmaceutical Pricing Authority (NPPA), the regulator for drug pricing approved an annual change of 0.0055% increase in the prices of drugs under the National List of Essential Medicines. This was done in line with the annual change in the wholesale price index.

“Based on the WPI data provided by the office of the Economic Advisor, Department of Industry and Internal trade Ministry of Commerce and Industry, the annual change in WPI works out as (+) 0.00551% during the calendar year 2023 over the corresponding period in 2022,” read the notice issued by the NPPA.

The industry, however, did not find anything to cheer since the rise appears really small against the backdrop of 12% and 10% rise in prices in 2023 and 2022. Scheduled drug manufacturers are allowed to revise prices once a year.

The new prices would extend to above 800 drugs on the National List of Essential Medicines.

According to the media, the list of essential medicines includes drugs like paracetamol, antibiotics, steroids, vitamins, anti-anaemia medicines and minerals. Some drugs used for treating moderate to severe Covid-19 patients are also on the list.

The industry has been clamouring for a substantial rise in prices since it has to contend with rising cost of inputs. Over the past few years, prices of some key active pharmaceutical ingredients have jumped between 15% and 130%. For example, industry representatives claim that the price of paracetamol have risen by 130% and excipients have become costlier by 18-262%. Glycerine and propylene glycol which are commonly used solvents in liquid preparation including syrups, oral drops, and sterile preparations have undergone price rise to the tune of 263% and 83% respectively. Prices of intermediates have also increased between 11% and 175%. Penicillin G has become costlier by 175%, industry representatives have told sections of the media.

A pressure group representing over 1,000 pharma manufacturers pleaded with the government to allow 10% price rise of scheduled formulations and 20% hike in the prices of non-scheduled drugs.