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Essential Drugs To Witness Price Hikes As Wholesale Price Index Continues To Rise
Essential drugs experience second consecutive double-digit price hike due to rising WPI (Pixabay/Steve Buissinne)
Over 1,000 formulations and 384 essential drugs are expected to experience an increase of more than 11 per cent in prices from 1 April due to a considerable surge in the Wholesale Price Index (WPI).
This surge means that consumers will have to pay more for vital drugs, such as antibiotics, painkillers, anti-infection, and cardiac drugs.
To avoid a shortage of medications and promote mutual benefits between manufacturers and consumers, the Health Ministry increased prices in a controlled manner. The goal is to prevent manufacturers from selling at a loss while ensuring a steady supply of essential medicines in the country, said a senior official.
As per the report, manufacturers previously limited the price hike to under 5 per cent despite a 10 per cent allowance due to market forces. A similar trend maybe witnessed with the current hike.
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