Indian pharma seeks relief from price controls

India's drug manufacturers are lobbying for a one-time exemption from a price control regulation linked to the Wholesale Price Index (WPI). Under the Drug Price Control Order, prices for scheduled drugs are adjusted annually based on the previous year's WPI.

The WPI is subject to fluctuations, and while it surged in 2022 resulting in price hikes in 2023, there exists a possibility it has shrunk, potentially leading to price reductions this year according to the DPCO framework.

Last year witnessed the largest-ever price increase of 12% for essential medicines in India, reflecting changes in the WPI and impacting approximately 900 different drug formulations. Additionally, the government revised the National List of Essential Medicines, adding 34 medicines and removing 26, resulting in a total of 384 medicines available in 870 formulations.