Medicines face 20 percent hike in prices


The shock of increasing prices can now be felt in medicine. Prices are going up by at least 20 percent. The Indian Drugs Manufacturers Association has taken the initiative to increase the prices of medicines which are outside the price control rules of the government. Few medicines, like life-saving medicines, are under government price control rules, but not many. The rest are non-scheduled drugs in pharmacy terms. The manufacturer’s association has written to the central government and NITI Aayog seeking a 20 percent hike in the prices of those drugs this year instead of 10 percent. They demand that approval be given as soon as possible. Due to the combined shock of rising prices and depreciation of the rupee for almost 10 months, the cost of imports has reached an extreme peak. As a result, the input cost of non-scheduled drugs, i.e. the cost of imported materials and raw materials for drug production, has skyrocketed. Not only this, the cost of packaging and transportation is increasing sharply due to rising prices. If the drug production and supply in the market is to be kept normal, then there is no option but to increase the price by 20 percent.According to the National Pharmaceutical Pricing Authority rules, the price of non-scheduled drugs can be increased by a maximum of 10 percent per year. Article 19 of the Drug Price Control Order provides for this control. In a letter sent to the government, the drug manufacturing organization requested to amend the rules. According to them, at least for once a path of growth of more than 10 percent should be opened. If the inflation rate and raw material import costs fall in the same proportion in the coming days, then the price will be reduced again by 10 percent. Such assurance has also been given in the letter. According to sources, the organization sometimes demands price increase. Besides, the price of medicine is increased in the market erratically . The price control authority is also upset by these two trends. Because, the anger among the people is constantly increasing. So this time, the Ministry of Chemistry has taken initiative to form a drug mechanism committee with centers and drug manufacturers. In the coming days, one molecule-one price formula is also being discussed. But for now, it is almost certain that there will be an increase in price by 20 percent in one blow. The statement of the pharmaceutical companies has issued a kind of warning – if the price is not increased, the production will decrease. In the coming days, there will be a crisis in the supply of medicines in the market and the common people will suffer the consequences.

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