In March 2022, the National Pharmaceutical Pricing Authority announced that the prices of essential medicines would rise by 10.77%. In the last eight years, the average hike was 2.5%. The ceiling price of over 850 scheduled drugs is revised on April 1 every year based on the wholesale price index. These drugs are classified as essential because they are safe, efficacious, and collectively address the majority of public health concerns. The price rise has had an uneven impact. While the rise was relatively low for cheaper medicines, the more expensive medicines have recorded a phenomenal rise. For instance, Trastuzumab, which is used to treat breast and stomach cancer, has increased by about ₹6,500, while Paracetamol injections have risen by about ₹2.
Sharpest hike
The chart shows the year-wise movement in the WPI, which is used by the NPPA to fix the ceiling price of essential drugs. In March 2022, the body approved a hike of 10.77%, the highest in at least nine years.
