In a welcome relief for Indian consumers, the government has announced minimal price increases for essential medicines on the National List of Essential Medicines (NLEM) for the upcoming financial year 2024-25. This comes amidst concerns raised by some media reports suggesting a significant hike in medicine prices.
The government clarified that these reports were “false, misleading and malicious.” The actual price increase for essential medicines is set at a mere 0.0055%, attributed to low inflation. This effectively means prices for most essential medicines will remain stable throughout the year.
“This minimal increase ensures affordability of essential medicines for our citizens,” stated a health ministry official. The National Pharmaceutical Pricing Authority (NPPA), India’s drug pricing regulator, announced the decision earlier this year.
Focus on Affordability and Reforms
The news comes alongside the government’s expansion of a committee tasked with reviewing drug and medical device pricing reforms. This move signifies a continued focus on making healthcare more affordable in India.
While essential medicines see minimal price adjustments, the committee’s work on broader reforms is expected to address pricing structures for other categories of drugs. This could potentially impact the availability and affordability of non-essential medications in the future.
