From painkillers to antibiotics... 800 drugs to become more expensive from April 1, know why

Amid rising inflation, the public is going to get another shock. Prices of essential medicines are going to increase from 1st April. These range from painkillers to antibiotics. In such a situation, the burden on the pockets of the common man, who are already bearing the brunt of inflation, will further increase. As for essential medicines, they include painkillers, antibiotics and 800 heart medicines. The prices of all these medicines are going to increase from April 1.

In fact, the government is fully prepared to allow pharmaceutical companies to increase their prices in line with the change in the annual Wholesale Price Index (WPI). According to the information, in view of the rising inflation, the pharma industry was demanding to increase the prices of medicines.

How much will the price increase?

The government is willing to allow an increase of .0055%, corresponding to the annual change in the Wholesale Price Index (WPI). After a record annual increase of 12% and 10% in the prices of drugs under the National List of Essential Medicines (NLEM) last year and 10% in 2022, this would be a modest hike for the pharma industry. The adjusted prices will cover more than 800 drugs included in the National Essential Medicines List. The price of scheduled drugs is allowed to change once a year.

What are essential medications?

Those drugs are included in this list. Which is useful for most people. For your information, let us tell you that the price of these medicines is under the control of the government. A drug company can increase the price of these drugs by only 10 percent in a year. Anti-cancer drugs are also included in this list.

The rates of these drugs will increase

The list of essential medicines includes medicines like paracetamol, antibiotics like azithromycin, anti-anemia medicines, vitamins and minerals. Some drugs and steroids used to treat moderately to severely ill patients with Covid-19 are also on the list. The industry is demanding a significant price hike as it grapples with rising input costs.

Why will the price increase?

According to industry experts, over the past few years, the prices of some key active pharmaceutical ingredients have increased between 15% and 130%, with paracetamol prices increasing by 130% and excipients by 18-262%. Solvents, including glycerin and propylene glycol, syrups have become expensive by 263% and 83% respectively. Prices of intermediates also increased by between 11% and 175%. Penicillin G has become expensive by 175%.

Earlier, a lobby group representing over 1,000 Indian drug manufacturers had also requested the government to allow a 10% hike in prices of all prescribed formulations with immediate effect. It also demanded a 20% hike in the prices of non-scheduled drugs.