The National Pharmaceutic Pricing Authority (NPPA) has announced an increase in the prices of over 900 essential drugs, up to 1.74 per cent, The list includes medicines for critical infections, heart diseases, and diabetes. The price of all essential medicines are fixed by the government’s NPPA, The prices are changed every year’s Wholesale pricing Index. The annual change in WPI works out as (+) 1.74028% during the calendar year 2024 over the corresponding period in 2023, the manufacturers may increase the maximum retail price of scheduled formulations on the basis of this WPI and no prior approved of the government in this regard shall be required shall be required,’’ The price regulator said in its statement.
The NPPA has approved the price hike in over 900 medicines, Painkillers and diabetes medication, as per reports. The increased costs may pose challenges for consumers relying on these medications. The price hike will affect medicines including Azithromycin, Ibuprofen, some diabetes medicines Hydroxychloroquine among others, as per a media report. Drug manufacturers can increase the pricing of their medicine for up to 1.75% without any approval required.