Prices of all essential medicines, including painkillers, anti-infectives, anti-diabetes, cardiac and antibiotics, are expected to be revised downwards in April by nearly 3%, resulting in substantial savings in treatment costs.
This will be the first time that prices of nearly 750-odd essential formulations (part of the National List of Essential Medicines) will witness a price drop across the board, since the National Pharmaceutical Policy was implemented in 2013. The drop in prices will be in line with the change in annual wholesale price index, which was -2.75% (negative) for the January-December period.
The DPCO (Drug Price Control Order) 2013 lays down the provision for price revision in drugs, where manufacturers can change the maximum retail price (MRP) of scheduled formulations once a year, in April, on the basis of the WPI of the preceding calendar year, and, for this, no prior approval of government shall be required. Also, in case of a decline in wholesale price index, there shall be a corresponding reduction in the maximum retail price, it adds.
-More at TOI