Thrissur: The price of essential medicines will skyrocket to historic highs due to the annual change in the Wholesale Price Index (WPI) for the calendar year 2021 over the corresponding period of 2020. The price of medicines will experience an increase of 10.8% with effect from April 1.
Patients with lifestyle diseases will face the heat of rising prices. They require repeated intakes and it will burn holes in their pockets.
Kerala is a hub of diseases like diabetes, heart disease, blood pressure and fat sedimentation. It is estimated that the average monthly expenditure of most households in the state for medicines is around 1,000 rupees. Rising prices will hit them hard.
It is the National Pharmaceutical Pricing Authority that regulates the prices of 900 items, including drugs, medical equipment and glucose. In this 871 are chemical elements. The brands of these chemical elements total more than ten thousand. For example, the chemical element paracetamol is available in 1,500 brands.
A National Pharmaceutical Pricing Authority committee decides the price of items on the list. There are plans to increase drug prices based on the Wholesale Price Index (WPI).