Drug pricing regulator announced an annual change of 0.0055% increase in prices of drugs under the National List of Essential Medicines (NLEM), in line with the annual change in the wholesale price index.
“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% during the calendar year 2023 over the corresponding period in 2022,” said the notice by the National Pharmaceutical Pricing Authority (NPPA).
An industry insider said this is hardly anything to cheer the pharma industry, especially after two massive hikes of 12% and 10% in prices last year and 2022. However, an executive associated with an NGO said that this will be a good move in the interest of maintaining the affordability of these drugs.
