A steep rise in the prices of essential life-saving drugs has left consumers in distress. Over the past six months, pharmaceutical companies have reportedly hiked the prices of medications for hypertension, diabetes, cancer, and gastrointestinal ailments by 20-50%. The cost of antibiotics used in surgeries has nearly doubled, raising concerns about accessibility/affordability for patients.

Key Highlights

Price Surge Details:

• Over the past six months, pharmaceutical companies have increased drug prices by 20-50% for essential medications.

• Cost of surgery-associated antibiotics nearly doubles.

• Social activist Subhash Sharma cited Pantoprazole-40 mg, priced at Rs 130 for a strip of 10 tablets, while its cost price is Rs 20, revealing profit margins exceeding 90%.

• Reports say retailers mint from a 1,000-1,500% profit on some drugs.

Regulatory Loopholes:

• The Essential Commodities Price Control Act gives district magistrates authority over drug price regulation, but such power cannot be realistically exercised.

• The Government of India allows pharmaceutical companies to print high MRPs on generic medicines.

• With vigilance and regulatory agencies charged with neglect, the pharmaceutical companies are allowed to loot.

Effects on Consumers:

• Poor patients are most affected by the inflated MRPs, making essential medicines unaffordable.

• With no active monitoring, the burden on the poor will increase further.

Very limited intervention by the government:

• A senior state Drug Control Department official agreed that state authorities do not have a significant say in the matter.

• Only the Central Drug Controller has this specter of power on intervention in pricing/maximum retail price regulation.

Social issues:
Subhash Sharma and other activists call for:

• Stricter enforcement of price controls under the Essential Commodities Price Control Act.

• Transparency in pricing to hedged against exorbitant profit margins.

• Enhancements in accountability on part of administrative and vigilance agencies.

The recent price hikes of life-saving drugs indicate the strong need for stronger regulatory intervention and strict oversight of pricing norms. With millions dependent on affordable medicines for treatable conditions, both state and central authorities must act swiftly to combat profiteering and secure consumers' rights to affordable healthcare.