The cost of some vital medications was supposed to increase by 12.12% starting on April 1, 2023, but it has actually decreased. The National Pharmaceutical Pricing Authority (NPPA) reported that from April 1, the cost of 651 essential medications has decreased by 6.73 percent.
Details about according to Prime Minister Modi’s price cap, the cost of 651 essential medicines has decreased by 6.73% since April
The Modi government has controlled the ceiling prices of the bulk of the scheduled drugs, which has decreased the cost of important medications, which is a huge comfort for the average person. TOut of the 870 scheduled pharmaceuticals on the National List of Essential Medicines, according to the national drug price regulator, 651 have had their ceiling prices set thus far (NLEM).
In September 2022, the health ministry updated NLEM, adding a total of 870 medications.
The NPPA claims that the limiting of ceiling prices has already reduced the average cost of 651 critical medications by 16.62%. Notwithstanding a 12.12 percent annual increase in prescription prices based on WPI, it was said that consumers will still profit from this price drop.
Mansukh Mandaviya, the union health minister, elaborated on the topic by saying that by capping the pricing of the bulk of necessary medications, consumers will save over Rs 3,500 crore yearly. The Union Health Minister added that a typical decrease of 6.73 percent is anticipated, even if the corporation were to fully raise the price.
In accordance with the 2013 Pharmaceutical (Prices Control) Order (DPCO), the NPPA establishes a ceiling price for Schedule I essential medications. The simple average of all the medications in a given therapeutic category with sales of more than 1% is used in the calculation for critical drugs.