Essential Medicine Prices Edge Up!
The recent news regarding an increase in the prices of some essential medicines has stirred discussions across the country. The Drug Price Regulator of india has announced a marginal annual increase of 0.0055% in the prices of medicines listed under the National List of Essential Medicines (NLEM).
The notice issued by the National Pharmaceutical Pricing Authority (NPPA) states that the annual change in WPI for the calendar year 2023 was calculated to be (+) 0.00551% compared to the previous year. Consequently, the prices of essential medicines are being marginally increased by 0.00551% to reflect this change.
While some industry insiders view this increase as insignificant, especially compared to larger increases in previous years, others see it as a positive step to ensure the potency and effectiveness of these medicines. It's worth noting that this adjustment comes after significant price increases of 12% and 10% in the past two years.
Overall, the decision to adjust medicine prices based on WPI data reflects an ongoing effort to balance affordability with the need to maintain the quality and availability of essential medicines in the country.
The notice issued by the National Pharmaceutical Pricing Authority (NPPA) states that the annual change in WPI for the calendar year 2023 was calculated to be (+) 0.00551% compared to the previous year. Consequently, the prices of essential medicines are being marginally increased by 0.00551% to reflect this change.
While some industry insiders view this increase as insignificant, especially compared to larger increases in previous years, others see it as a positive step to ensure the potency and effectiveness of these medicines. It's worth noting that this adjustment comes after significant price increases of 12% and 10% in the past two years.
Overall, the decision to adjust medicine prices based on WPI data reflects an ongoing effort to balance affordability with the need to maintain the quality and availability of essential medicines in the country.