Govt allows pharma cos to hike prices of 509 essential drugs

1. Govt Allows Pharma Cos to Hike
Prices of 509 Essential Drugs
Prices of drugs for various ailments like diabetes, hepatitis & cancer to
go up by 3.84%
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2. Contd..
The government has allowed pharmaceutical companies to hike rates of 509
essential medicines used for treating various ailments like diabetes, hepatitis
and cancer by 3.84% with effect from April 1.The National Pharmaceutical
Pricing Authority (NPPA) has issued a notification for price hike of drugs in
line with the wholesale price index of 2014 under Drug Price Control Order,
2013.
“As confirmed by the economic adviser (Minister of Commerce and Industry),
the annual increase in the wholesale price index (WPI) works out at 3.84%
during calendar year 2014 over the corresponding period in 2013,“ NPPA said
in a notification.
The 509 medicines which have become costlier include Alpha Interferon injec
tion used to treat hepatitis B and C as well as certain types of cancer,
carboplatin injection used for cancer treatment, fluconazole capsules
indicated for fungal infections, among others.
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3. Contd..
Welcoming the decision, Indian Pharmaceutical Alliance (IPA) Secretary General DG Shah
told PTI: “It is a part of the policy. Pharmaceutical companies don't get a chance to hike
prices (more than once) a year. This price hike is linked to inflation.“
Prices of condoms, which are also part of the list of essential medicines, have also gone up
due to cost revision.
According to the notification, antibiotics which have Amoxicillin capsules have also become
costlier with effect from April 1.
At present, the government caps prices of a total of 348 essential medicines based on the
simple average of all medicines in a particular therapeutic segment with sales of more than
1%.
Besides, the government regulates prices of all other medicines and companies are
allowed to hike prices of such drugs by only up to 10% in a year.
The government had notified DPCO, 2013, which covers 680 formulations, with effect from
May 15, 2014, replacing the 1995 order that regulated prices of only 74 bulk drugs.
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