The Indian government has taken a significant step towards making healthcare more affordable by slashing the prices of 41 commonly used medicines and six formulations. The revised prices, effective April 1st, target various conditions, including diabetes, cardiovascular diseases, liver issues, infections, allergies, multivitamins, and antibiotics.
This decision, made during the 143rd meeting of the National Pharmaceutical Pricing Authority (NPPA), is expected to benefit millions of patients who rely on these essential medications. India, with over 10 crore diabetes patients, ranks among the countries with the highest number of cases globally. The price reduction will provide much-needed relief to these patients.
Previously, the high cost of multivitamins and antibiotics contributed significantly to the overall cost of general treatment. The government’s move addresses this issue by making these medications more accessible. The revised prices follow the NPPA’s announcement of a 0.00551% increase in prices of drugs on the National List of Essential Drugs (NLEM), based on changes in the wholesale price index (WPI).
Earlier this year, the NPPA had reduced prices of 69 medicines used in diabetes and hypertension. The government’s ongoing efforts to regulate pharmaceutical prices aim to ensure that essential medicines remain affordable for the public.
In addition to the price reductions, the Department of Pharmaceuticals has decided to expand the committee overseeing drug pricing by bringing in more industry participants. This move is aimed at striking a balance between pricing and availability of essential medicines, while providing incentives to the industry to foster growth and exports.
