The government today said the prices of 62 formulations packs have been increased by the National Pharmaceuticals Pricing Authority (NPPA).
The increase in the prices of medicines includes drugs for diabetes and tuberculosis from companies, including Novartis, Biocon, Wockhardt, Cipla and Lupin, said Minster of State for Chemicals and Fertilisers Srikant Kumar Jena in a written reply to the Rajya Sabha.
"This is mainly due to increase in input material cost and revision in the conversion cost, packing charges and packing material norms," he said, adding the price hike was carried out in March this year.
The price fixation/revision is a continuous exercise under Drugs (Prices Control) Order, 1995 (DPCO 1995), he added.
NPPA was established on August 29, 1997 as an independent body of experts for fixing and revising drug prices, both for bulk drugs and formulations, and to ensure their availability in the country.
