The National List of Essential Medicines or NELM fixes drug prices every year based on wholesale inflation.
At the starting of the new financial year, the extra pressure is for common people. From 1 April 2023, the prices of widely used medicines have been increasing. This increase can be up to 12 percent for some drugs. Last week, the center announced duty waiver on several rare drugs imported from abroad. But after that it came to know that although the duty of rare diseases has been reduced, the price of many common medicines has increased a lot. As a result, people who have to depend on various medicines regularly, the cost of their daily life will increase a lot.
The price of different drugs has increased differently but the maximum increase is 12 percent. It has been informed by the center that the prices of more than a thousand types of medicines are going to increase. The reason given is wholesale inflation. But never before has such a huge price hike occurred in a single blow in the field of medicine.
The National List of Essential Medicines or NELM fixes drug prices every year based on wholesale inflation. In addition to direct-to-consumer retail sales, drugs on the Essential Drug List are also used in various government health programs. Citing wholesale inflation as the reason for the increase in the price of medicines, an official, financial advisor to the Ministry of Industry and Commerce, said that the price has increased by 12.12 percent in January this year from January last year.
With this, the price of medicine increased by more than ten percent for two consecutive years. Last year this growth was 11 percent. This time it increased to 12 percent. In the list submitted by NLEM last September, there are more than 1,000 combination drugs in 384 categories, which can be used in 27 types of treatment. And now the prices of all those medicines are going to increase from April.
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