New Delhi:Â Several essential medicines will become expensive from today onwards. As per the National Pharmaceutical Pricing Authority (NPPA), the prices are likely to go up by 0.0051 per cent on the current Maximum Retail Price (MRP).
This step has been scheduled for the beginning of fiscal year 2024-2025.
These essential medicines include variety of drugs including painkillers, antibiotics and anti-infectives.
The national medical agency also stated that this change in pricing will also affect the Wholesale Price Index (WPI) for the preceding calendar year of 2023 over the year 2022.
The notice stated, “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 per cent during the calendar year 2023 over the corresponding period in 2022.”
It also said that the manufacturers may rise the MRP of these drugs based on this WPI and no prior approval will be required from the government. The notice was released on March 27, 2024.
This increase in prices comes after medicine prices were hiked by 12 per cent last year and 10 per cent in 2022.
List of medicines to get costly
This latest notification impacts over 800 medicines, including drugs like paracetamol, azithromycin, vitamins, minerals, some drugs to treat COVID-19 infection, and steroids are on the list.
The notification, dated March 30 2024, reveals, ‘fixation and revision of 923 Scheduled Formulations and Retail prices of 65 formulations.’
The list includes crucial drugs like Amoxicillin, Amphotericin B, Benzoyl peroxide, Cefadroxil, Cetirizine, Dexamethasone, Fluconazole, Folic Acid, Heparin, Ibuprofen etc.
What does it mean?
While the increase in price will affect the overall healthcare system of the country, most of these drugs have been linked to antibiotic resistance. The increase is minimal but can help in reducing the danger of antibiotic resistance.
Drugs like Paracetamol and other pain killers are easily available over-the-counter (OTC). The overuse of these drugs has been flagged multiple times.
