Medicine Price Hike: Due to rising global inflation and Russia-Ukraine war, inflation has started increasing in our country as well. Amidst the rising prices of petrol and diesel, now the news of increase in the prices of medicines is also coming. From April, the prices of essential medicines including pain killers, antibiotics, anti-virus are going to increase (Drugs Price Hike). The government has allowed an increase of more than 10 percent for scheduled drugs.
According to The Economic Times, India’s Drug Pricing Authority on Friday allowed a 10.7 per cent hike in prices for scheduled drugs. From the month of April, the price of more than 800 medicines under the National List of Essential Medicines (NLIM) will increase. This is the highest price hike allowed.
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According to media reports, on March 23, the National Pharmaceutical Pricing Authority (NPPA), a government regulatory agency that controls the prices of medicines in India, asked companies to submit necessary documents to increase prices based on the Wholesale Price Index (WPI). Was. Then it was said that from April 1, the price of all essential medicines could increase by about 2 percent.
which drugs affect
The National List of Essential Medicines includes more than 875 drugs, including antiretrovirals used to treat diabetes, cancer drugs, hepatitis, high blood pressure, kidney disease, etc.
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Companies that are not part of the National List of Essential Medicines are allowed to increase their prices by up to 10 per cent annually. At present, more than 30 percent of the pharmaceutical market is under direct price control.
How do drug rates increase?
The office memorandum issued by the Pricing Authority on Monday said, “As confirmed by the Economic Advisor (Ministry of Commerce and Industry), the annual change in Wholesale Price Index (WPI) during the calendar year 2016 is the same as of 2015. 1.97186% as compared to the period.
According to the Drug Price Control Order, the price of essential drugs is changed by the regulator based on the change in the WPI of the pharmaceutical company. The prices of drugs, which are part of the National List of Essential Medicines, are controlled directly by the government by capping the maximum prices of drugs on a simple average with a minimum market share of 1 percent on all drugs in a particular segment. Goes.
Tags: Covid-19 Medicines, Generic medicines, inflation, Locust medicine, Medicine, Medicines
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