SpreadIt News | Digital Newspaper

Medicine Price Hike: Medicine Prices to hike up to 10% after 1st April, Read Here

With LPG gas cylinder prices reaching new highs and petrol/diesel prices hiking for the 5th consecutive day – MEHENGAI seems to become a huge problem before it is banished from the lives of the middle-class community. Now, even medicines are going to be expensive after 1st April.

Essential medicines like painkillers, antibiotics, antiinfectives, will cost more than now as the government is set to allow drug companies an increase in line with the change in the annual WPI (Wholesale Price Index).

Advertisement

According to a TOI report, prices of over 850 formulations across major therapies are going to rise by 10%. However, this price surge is good news for the pharma industry as they have been battling with the manufacturing costs for quite a long time now.

“Industry will be relieved once the new prices are notified. It has been facing huge cost-escalation due to imported raw materials and excipients, in some drugs as steep as 60-70%. There have also been massive increases in freight rates, transportation and packaging costs,” a company executive said. “We had sought a 20% increase last year.”.

Advertisement

So brace yourselves as we have another price hike coming our way!

For more breaking news, click here.

Advertisement