New Delhi, March 28: Prices of 384 essential drugs and over 1,000 formulations are set to see a hike of 12%, due to a sharp rise in the Wholesale Price Index (WPI). The price surge to set in from April 1 will mean that consumers have to pay more for routine and essential drugs, including painkillers, anti-infection drugs, cardiac drugs, and antibiotics.
The prices of essential medicines are set to go up by 12 per cent. But does that mean people are going to change the way they buy medicine?
Prices of painkillers, antibiotics, anti-infectives and cardiac medicines are among the drugs whose prices are going to go up from April 1.
Last year, the National Pharmaceutical Pricing Authority (NPPA) announced a 10.7 per cent change in the Wholesale Price Index (WPI).
Every year, the NPPA announces a change in the Wholesale Price Index (WPI) in accordance with the Drugs (Price Control) Order, 2013, or DPCO, 2013.
This is for scheduled drugs, prices of which are controlled by the NPPA. Non-scheduled drugs are outside price control and are allowed an annual increase of 10 per cent.
This is the second year in a row that the increase in prices of scheduled drugs will be higher than non-scheduled drugs. The or scheduled drugs are part of the national list of essential medicines.
Based on that order, drug prices regulator NPPA goes for WPI-based price change every year, which pharmaceutical companies then implement. The fixing of prices impact over 800 essential medicines and medical devices.
