09 April, New Delhi
The Government Of India has allowed pharmaceutical companies to hike rates of 509 essential medicines used for treating various ailments like diabetes, hepatitis and cancer by 3.84 per cent.
The National Pharmaceutical Pricing Authority has issued a notification for price hike of drugs in line with the wholesale price index of 2014 under Drug Price Control Order, 2013.
Antibiotics which have Amoxicillin capsules have also become costlier. The new rates have been effective from first of this month.
At present, the government caps prices of a total of 348 essential medicines based on the simple average of all medicines in a particular therapeutic segment with sales of more than 1 per cent.
Besides, the government regulates prices of all other medicines and companies are allowed to hike prices of such drugs by only up to 10 per cent in a year.