Stents, drugs, condoms set to get dearer
The decision has come as a sigh of relief for manufacturers which had last year saw two per cent price reduction.
New Delhi: Stents, drugs for a range of ailments, and condoms are set to cost more April 1 onwards.
The government on Thursday allowed pharmaceutical companies to hike the prices of 642 scheduled drugs for 27 therapeutic segments — including antibiotics, analgesics and medicines used for treating serious ailments like diabetes, cancer, cardiovascular conditions, kidney disorders, hepatitis — by around two per cent. Stents and condoms will also get more expensive.
“As confirmed by the economic advisor (ministry of commerce and industry) the annual increase in the wholesale price index works out at 1.97186 per cent during the calendar year 2016 over the corresponding period in 2015,” the NPPA said in a notification.
The decision has come as a sigh of relief for manufacturers which had last year saw two per cent price reduction.
D.G. Shah, secretary general, Indian Pharmaceutical Alliance told this newspaper, “Though two per cent increase is a very small increase, there is a sigh of relief... Manufacturers have been under pressure as there was a price reduction last year and then the new drugs were brought under price control”.
Earlier the National Pharmaceutical Pricing Authority had asked companies to submit documents to avail the annual price hike based on WPI (wholesale price index). Under the Drugs Price Control Order, the price regulator revises prices of medicines annually based on the changes in WPI.