Prices of Medicines to increase from April!

March 21: In another development, the prices of essential medicines including painkillers, antiinfectives, cardiac and antibiotics could go up from April as the government allowed drug manufacturers to increase accordingly with the annual Wholesale Price Index (WPI). Nationwide Pharmaceutical Pricing Authority of India stated that the annual change within the WPI notified works out to 0.5 per cent for 2020. The prices of the scheduled drugs are allowed an increase each year by the drug regulator in line with the annual WPI.

An industry expert told the media, ““We feel the percentage allowed for increase is too small. During pandemic, the industry was impacted by a rise in prices of key raw materials, sea freight and increase in packaging material, among other rising costs. We plan to ask for an increase as a one-off increase from the government soon.”