Essential medicines are likely to become 15 to 20 percent costlier by April’21. These medicines include pain killers, anti-infective drugs, antibiotics and cardiac medicines. The government has already given its approval for the price hike in medicines in line with the change in annual WPI (Wholesale Price Index).
The annual change in WPI notified by the government works out to 0.5% for 2020, the drug prices regulator National Pharmaceutical Pricing Authority said on Friday.
Prices of scheduled drugs are allowed an increase each year by the drug regulator, in line with the annual WPI.
As informed by a pharma industry executive, the pandemic made everything expensive. From the cost of raw material to the packaging charges and sea-freight…everything has become costlier. The industry, hence, is asking for a hike in prices of medicines from the government.