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Govt allows pharma companies to increase the rates of 509 essential drugs

The government with effect from April 1, has allowed the pharmaceutical companies to increase the rates of 509 essential medicines which are used to treat various ailments like diabetes, hepatitis and cancer by 3.84%.

The National Pharmaceutical Pricing Authority (NPPA) has issued a notification for price hike of drugs in line with the wholesale price index of 2014 under Drug Price Control Order,2013.

“As confirmed by the economic adviser (Minister of Commerce and Industry), the annual increase in the wholesale price index (WPI) works out at 3.84 per cent during calender year 2014 over the corresponding period in 2013,” NPPA said in a notification.

Indian Pharmaceutical Alliance (IPA) Secretary General D G Shah said: “It is a part of the policy. Pharmaceutical companies don’t get a chance to hike prices (more than once) a year. This price hike is linked to inflation.”

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