The Ministry clarified that manufacturers have the discretion to incorporate or disregard this negligible increase in their product pricing...
Digital Desk: The Union Ministry of Health and Family Welfare has refuted recent media claims suggesting an imminent surge in medicine prices. Denouncing the reports as "false, misleading, and malicious," the Ministry clarified on Wednesday that there would be no significant increase in medicine prices as alleged.
Contrary to earlier speculations, the Ministry revealed that the National Pharmaceutical Pricing Authority (NPPA) annually revises the ceiling prices of scheduled medicines based on the Wholesale Price Index (WPI). According to the latest data, a mere 0.00551 percent increase in the WPI will result in no alteration in the ceiling prices of 782 medicines. Additionally, only 54 medicines will experience a marginal rise of Rs 0.01 (one paisa).
These 54 medicines, with ceiling prices ranging from Rs 90 to Rs 261, are subject to the maximum permissible increase under the Drug Price Control Orders (DPCO) 2013. However, the Ministry clarified that manufacturers have the discretion to incorporate or disregard this negligible increase in their product pricing.
Furthermore, the Ministry emphasized that pharmaceutical companies adjust their Maximum Retail Prices (MRP) based on the ceiling price of medicines, allowing them flexibility within regulatory limits. These revised prices, effective from April 1, are readily accessible on the NPPA's official website.
The Union Ministry's statement reassures consumers that there will be minimal to no change in medicine prices in the fiscal year 2024–25, debunking unfounded fears propagated by certain media outlets.
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