The prices of essential medicines including Ibuprofen and Azithromycin will slightly increase from April 1. According to a notice issued by the National Pharmaceutical Pricing Authority (NPPA), the prices of medicines that are included in the National List of Essential Medicines (NLEM) will slightly increase by 0.00551 percent on April 1, 2024. This phase has been planned for the beginning of the fiscal year 2024-2025.
The NPPA also expressed that this change in prices of essential medicines will be in accord with the change in the wholesale Price Index (WPI) for the preceding calendar year of 2023 over the year 2022. The drugs including painkillers, antibiotics, and anti-infectives will be impacted by the price increase.
The notice of the NPPA expressed that based on the WPI data provided by the Office of the Economic Advisor, the Department of Industry, and the Internal Trade Ministry of Commerce and Industry, the annual change in WPI works out as (+) 0.00551 percent during the calendar year 2023 over the corresponding period in 2022.
The notice was released on March 27, 2024, and it also said that the manufacturers may accelerate the MRP of these drugs based on this WPI and no prior approval will be required from the government. The rise in prices of medicines comes after prices were hiked by 12 percent last year and in 2022 hiked by 10 percent.
The notification of NPPA impacts over 800 drugs on the list including paracetamol, azithromycin, minerals, vitamins, steroids, and some drugs to treat COVID-19. The list also includes important drugs like Amoxicillin, Cefadroxil, Amphotericin B, Benzoyl peroxide, Cetirizine, Dexamethasone, Fluconazole, Folic acid, Heparin, Ibuprofen.
The NPPA in another notice has also published the revised price affecting the Wholesale price index movement for all the scheduled drugs.
The recent announcement on 30 March 2024 uncovers the fixation and revision of retail prices of 65 formulations and 923 scheduled formulations.
The price increase will impact the healthcare system of the nation. The majority of the drugs have been related to antibiotic resistance. However, the price rise in the slightest, can aid in ameliorating the peril of antibiotic resistance.
(Input from various sources)
(Rehash/Lavanya Beeraboina/MSM)
