Prices of essential medicines set to increase by 12%: Hike is the highest ever

Prices of essential medicines related to the treatment of many diseases, including heart diseases and diabetes, are expected to increase by more than 10% this year. This increase is the highest ever.
The government is set to allow a 12.2% increase in the prices of medicines under the National List of Essential Medicines (NLEM) in 2022, in line with the change in the Wholesale Price Index.
NPPA has allowed pharma companies to increase the price by about 10 percent.
Joint Commissioner of National Pharmaceutical Pricing Authority (NPPA) Rashmi Tahaliyani said that compared to 2021, there has been an annual change of 12.12 percent in the Wholesale Price Index. This is likely to increase prices by 12% for 384 molecules belonging to 900 formulations for treating 27 diseases.
A 10% increase in the prices of medicines outside the list of non-essentials will be waived. Last year, NPPA allowed the pharma industry to increase prices by around 10 percent.
People who are already facing the brunt of inflation, now even medicine will be costlier. Painkillers, anti-infectives, antibiotics and heart medicines are going to be costlier from April. The government has allowed drug companies to increase prices. Prices will increase based on changes in the Wholesale Price Index (WPI).