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Essential drugs get WPI-linked price hike

Source : BUSINESS_STANDARD
Last Updated: Wed, Dec 12, 2012 10:20 hrs
A medical representative with Abbott talks to a chemist at a market in Pune

The National Pharmaceutical Pricing Policy, 2012, recently notified by the government, has linked the permitted annual increase in prices of 348 essential medicines to the wholesale price index (WPI).

Among various other things, the new policy aims to regulate the prices of essential medicines through a market-based mechanism, as against the cost-plus method used so far. The government is to cap the prices of these 348 essential medicines at the simple arithmetic average of drugs with a market share of one per cent and more in the segment concerned.

“The prices of these NLEM-2011 (National List of Essential Medicines) medicines will be allowed an annual increase according to the wholesale price index,” the policy document says.

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