Indian pharmaceutical manufacturers have urged the government to allow drug makers to increase prices of all non-scheduled drugs by 20 per cent as the pharma industry battles rising input costs. Meanwhile, the prices of essential medicines have gone up by an average of 50 per cent.
At present, drugs in non-scheduled are allowed a maximum annual price increase of 10 per cent.
India imports about 70 per cent of its raw material for active pharmaceutical ingredients or APIs from China. The nation has become a global capital of diabetes and high blood pressure due to its population. Hence, the demand for these drugs is high.
As a result, prices of essential medicines including painkillers, antifungals, cardiac and antibiotics including paracetamol have gone up by 40 per cent in India.
In the pharmaceutical sector, medicines have become more expensive due to the increase in the price of what is called active pharmaceutical ingredient or API.
The Indian Drugs Manufacturers' Association (IDMA) emphasised on the "serious situation" that has been exacerbated due to the escalation of input costs in a letter to Union Health Minister Mansukh Mandaviya, Niti Aayog, secretary department of pharmaceuticals, and chairman National Pharmaceutical Pricing Authority (NPPA), .
Therefore, it said that the 10 per cent additional increase may be reversed once the surge in input costs abates.
The IDMA said that the increase in input costs has affected all cost heads including key starting materials, packaging materials and transportation costs.
Share
Tweet
