Key medicines are likely to get costlier soon as the National Pharmaceuticals Pricing Authority (NPPA) has increased prices of 21 formulations.
Many pharmaceutical companies were lobbying for this price increase as the rise of active pharmaceutical ingredients (APIs).
The APIs constitute around 40-80 percent of the price of the drug and a committee was constituted in March to look into the matter.
In January 2019, the NPPA had considered 49 such applications for 72 drugs. Eventually, NPPA has decided to increase the price of 21 formulations. This is going to be a one-time price increase of around 50 percent on the ceiling price.
These drugs are already under price control, but it was becoming unfeasible for a lot of manufacturers to constantly sell at low prices as the API prices had increased significantly.