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.
According to the National Pharmaceutical Pricing Authority's communication on 25 March, the annual change in WPI for 2022 was reported at 12.12 per cent. The previous year, NPPA had announced a 10.7 per cent change in WPI. NPPA releases an annual change in WPI, as per Drug Price Control Order (DPCO), 2013.
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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