Why Essential Medicines Are Set To Get Costlier For You From April 1?
From April 1st 2024, you will need to dig deeper into your pocket to pay for medicines, as the cost of essential medications, such as antibiotics, anti-infectives, and painkillers, is expected to increase, but very slightly.??
Why Essential Medicines Are Set To Get Costlier From April 1?
In accordance with the annual change in the wholesale price index, the drug pricing regulator announced an annual increase in drug prices for medications included in the National List of Essential Medicines (NLEM) of 0.0055%, with effect from April 1.? ?The pharma industry was demanding an increase in prices since it is facing rising input costs.
Which All Medicines Will See A Price Hike?
The higher prices will affect more than 800 medicines.?The list of essential medicines includes drugs like paracetamol, antibiotics such as azithromycin used to treat bacterial infections, anti-anaemia medicines, vitamins, and minerals. Some drugs used for treating moderately to severely ill Covid-19 patients and steroids are also on the list.
"Based on the WPI data provided by the office of the Economic Advisor, Department of Industry and Internal trade Ministry of Commerce and Industry, the annual change in WPI works out as (+) 0.00551% during the calendar year 2023 over the corresponding period in 2022," said the notice by the National Pharmaceutical Pricing Authority (NPPA), as per ET report.
This is hardly anything to cheer the pharmaceutical industry, according to an industry insider, especially after two massive price hikes of 12% and 10% last year and in 2022. But according to a representative of an NGO, this will be a wise decision in order to keep these medications affordable.
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