Consumers are in for a relief as prices of drugs in the National List of Essential Medicines (NLEM) will remain flat, in line with the change in the wholesale price index (WPI) this year.
In a notification issued on Wednesday, the National Pharmaceutical Pricing Authority (NPPA) said the annual change in WPI worked out to be 0.005 per cent during the calendar year 2023 over 2022. According to Para 16(2) of the Drug Price Control Order (DPCO) 2013, the manufacturers may increase the maximum retail price (MRP) of scheduled drugs on the basis of this WPI, the notification said.
Therefore, effectively, in 2024 the prices of NLEM drugs or scheduled drugs will remain flat. The price hikes allowed (in line with change in WPI) were 12.12 per cent in 2023 and 10.7 per cent in 2022, respectively.
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