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Prices of essential medicines will have a 20% hike from April

New Delhi: The prices of essential medicines have been on the rise in the country since April. Prices of medicines including painkillers, antibiotics, and anti-infective drugs will have an increase. Prices will be increased by 20 percent. The hike comes after the government allowed drug manufacturers to increase drug prices in line with changes in the annual wholesale price index. In 2020, the price increase was 0.5 percent. This was stated by the National Pharmaceutical Pricing Authority.

Drug manufacturing costs have risen by 15-20 percent. The price of active pharmaceutical components was high during the Covid period. In addition, the price of the drug will be increased in view of the increase in the price of packaging materials. By-products for manufacturing medicines for diabetes, painkillers, and antibiotics are being imported from China. About 80-90 percent of the imports are from China. As the Covid crisis spread in China, the prices of such active components also increased. When supply resumed in mid-2020, China had raised prices by 10-20 percent.

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