Prices of essential med to go up by over 4%
Rupali.Mukherjee@timesgroup.com
Mumbai:02.04.2019
Prices of essential medicines, including painkillers, anti-infectives, supplements and antibiotics, will go up by over 4%, after the government gave its nod to the increase, in line with the annual Wholesale Price Index (WPI). Hike in prices of cardiac stents have also been allowed on the basis of WPI at 4.26% for calendar year 2018. The revision in prices of both stents and medicines will come into effect from April 1.
While prices of 871-odd medicines that are part of the National List of Essential Medicines are expected to go up by over 4%, ceiling prices of drug-eluting stents (DES) have been revised upwards of ₹30,080, and bare metal stent at ₹8,261(exclusive of GST). Prices of essential medicines are revised according to change in annual WPI, according to the Drug Price Control Order (2013).
Earlier, the price for DES (metallic and biodegradable) was ₹28,849, and bare metal stood at ₹7,923.
The DPCO 2013 lays down the provision for price revision in drugs, where manufacturers can revise the MRP of scheduled formulations once a year, in April, on the basis of the WPI of preceding calendar year, and, for this, no prior approval of government is required. Also, in case of a decline in wholesale price index, there shall be a corresponding reduction in the maximum retail price, it adds.
Those manufacturers who sell branded/generic, or both versions of scheduled formulations at a price higher than ceiling price (plus goods and services taxes as applicable), shall revise the prices downward, not exceeding the ceiling price specified (plus goods and services taxes as applicable), the notification says.
Rupali.Mukherjee@timesgroup.com
Mumbai:02.04.2019
Prices of essential medicines, including painkillers, anti-infectives, supplements and antibiotics, will go up by over 4%, after the government gave its nod to the increase, in line with the annual Wholesale Price Index (WPI). Hike in prices of cardiac stents have also been allowed on the basis of WPI at 4.26% for calendar year 2018. The revision in prices of both stents and medicines will come into effect from April 1.
While prices of 871-odd medicines that are part of the National List of Essential Medicines are expected to go up by over 4%, ceiling prices of drug-eluting stents (DES) have been revised upwards of ₹30,080, and bare metal stent at ₹8,261(exclusive of GST). Prices of essential medicines are revised according to change in annual WPI, according to the Drug Price Control Order (2013).
Earlier, the price for DES (metallic and biodegradable) was ₹28,849, and bare metal stood at ₹7,923.
The DPCO 2013 lays down the provision for price revision in drugs, where manufacturers can revise the MRP of scheduled formulations once a year, in April, on the basis of the WPI of preceding calendar year, and, for this, no prior approval of government is required. Also, in case of a decline in wholesale price index, there shall be a corresponding reduction in the maximum retail price, it adds.
Those manufacturers who sell branded/generic, or both versions of scheduled formulations at a price higher than ceiling price (plus goods and services taxes as applicable), shall revise the prices downward, not exceeding the ceiling price specified (plus goods and services taxes as applicable), the notification says.
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