Big shock for diabetes-cancer patients! These medicines may become expensive

Diabetes and cancer patients are going to get a big shock. According to Business Today, government-controlled medicines including cancer, diabetes, heart diseases and other antibiotics will soon become expensive. Sources said that the prices of these medicines are expected to increase by 1.7 percent.

Talking about the estimated increase in the prices of these medicines, Rajiv Singhal, General Secretary of the All India Organization of Chemists and Druggists (AIOCD), told Business Today that this move will provide relief to the pharmaceutical industry, as the cost of raw materials and other expenses are increasing.

How long can prices increase

He said, ‘As far as the trade is concerned, it will take two to three months to see new prices of medicines in the market, as there are about 90 days of saleable medicines in the market at any time.’ A study by the Parliamentary Standing Committee on Chemicals and Fertilizers has revealed that pharma companies are repeatedly violating the rules related to the pricing of medicines and increasing prices beyond the permissible price increase.

307 cases of violations found

The National Pharmaceutical Pricing Authority (NPPA), India’s regulatory agency that fixes drug prices, has found 307 cases of violations by pharma companies. It sets the maximum price for medicinal drugs as per the Drugs (Price Control) Order (DPCO), 2013.

All manufacturers and marketers must sell their products at or below the maximum price set by the NPPA (plus applicable goods and services tax). Earlier this month, the Ministry of Chemicals and Fertilizers said that the reduction in average price due to the price ceiling of medicines listed in the National List of Essential Medicines, 2022, would result in an estimated annual saving of about Rs 3,788 crore to patients, Business Today reported.