India sees 6.73% reduction in the cost of 651 essential medicines
The Indian government's cap on drug prices has brought down the cost of 651 essential medicines by an average of 6.7%.
The national drug price regulator, the National Pharmaceutical Pricing Authority (NPPA) noted that though there was a planned increase of 12.12% in the prices of several essential drugs starting April 1, 2023, prices have instead been reduced due to the cap.
India's Drug Price Control Order (DPCO) has necessitated that every year on April 1, essential drug prices can be increased given the annual change in the Wholesale Price Index (WPI). The annual change in WPI was 12.12% for 2022, and so the price hike was to be at this rate.
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