After the anticoagulant heparin, the pharmaceutical industry is keen to have at least another 25 to 30 drugs be considered for an upward price revision as raw material prices and other expenses have risen in recent months, reported Business Standard.
India's National Pharmaceutical Pricing Authority allowed a one-time and temporary price increase of 50% to December 31 this year for heparin after a hike in input costs and shortage of supplies from China hit manufacturers.
According to the news source, the industry had made several representations to the pricing regulator after prices of the active pharmaceutical ingredient (API) of heparin went up by over 200% in the last two years.
"On an average for some products the API prices have shot up by 25% to 30%. API roughly constitutes 35% of the production cost," said Sudarshan Jain, secretary general of the Indian Pharmceutical Alliance.
Prices of APIs of common antibiotics such as norfloxacin and ciplofloxacin have shot up, while companies claim their operational costs have gone up too in recent months due to the COVID-19 pandemic.
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