Why did the govt. sanction a 50% hike in prices of commonly used drugs?
The Hindu
NPPA increases drug prices by 50% in public interest, citing extraordinary circumstances, to ensure availability of essential medications.
The story so far:
On October 14, the National Pharmaceutical Pricing Authority of India (NPPA) increased the ceiling prices of eight drugs, comprising medication for common diseases including asthma, tuberculosis, bipolar disorder, and glaucoma, among others. Prices have been increased by 50%.
What is the reason cited by the government:
The Central Government passed the order, citing “extraordinary circumstances” and “public interest.” The NPPA comes under the department of pharmaceuticals under the Union Ministry of Chemicals and Fertilizers, and a government release stated that it increased prices in greater public interest.
“The NPPA’s mandate is to ensure availability of essential drugs at affordable prices and ensure affordability without jeopardising access. Essential drugs must remain available, and their price regulation should not lead to a situation where these drugs become unavailable,’’ it said.
The NPPA added that it has been receiving applications from manufacturers for upward revision of prices, citing increased cost of active pharmaceutical ingredients; increase in the cost of production; and a change in the exchange rate, making production and marketing of the drugs unviable. Companies also applied for discontinuation of some formulations on account of their unviability.
How are prices of drugs controlled in India:
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