The country is expected to be jolted by yet another round of inflation. By April 2022, drug prices will now have increased.
The National Pharmaceutical Pricing Authority of India said on Friday that the Wholesale Price Index (WPI) for calendar year 2021 will be 10.7% higher than for the same period in 2020.
“This is brought to the attention of those concerned for future action in accordance with the requirements of the Drugs (Price Control) Order, 2013,” the statement said.
This implies that, starting April 1, the prices of roughly 800 scheduled medicines on the National List of Essential Medicines, which are used to treat the majority of common disorders, will increase by 10.7%.
“Based on WPI statistics provided by the Ministry of Commerce and Industry’s Office of the Economic Advisor, the yearly change in WPI during the calendar year 2021 over the equivalent time in 2020 comes out to 10.76607 percent,” the NPPA announcement stated.
Medicines for fever, infections, heart illness, high blood pressure, skin problems, and anaemia will now be more expensive. Paracetamol, Phenobarbitone, Phenytoin Sodium, Azithromycin, Ciprofloxacin Hydrochloride, and Metronidazole are examples of such medications.
According to Chinu Srinivasan of the All India Drug Action Network (AIDAN), a patient rights organisation, the basket of price-controlled pharmaceuticals, which accounts for around 16 percent of the total pharma market, will rise by 10%.
