Demand for chronic drugs expected to rise 30% ahead of price hike
Pharmaceutical resellers and marketers have pointed out that they expect demand for chronic therapy drugs, such as hypertension and diabetes, to increase by at least 30% before the 10.7 surge. % of essential drug prices.
Rajiv Singhal, secretary-general of the All India Organization of Chemists and Druggists (AIOCD), an umbrella association of more than 650,000 retail pharmacists in the country, said trade channels now have about a month’s worth of inventory and half.
“There is stock at C&F agents, at resellers and also in the company’s warehouses. It can easily be estimated that the business has about a month and a half to two months of inventory. The price hike will be applicable to drugs manufactured from April 1,” Singhal said.
He expects there to be a general increase in demand for chronic drugs as consumers stock up before a price hike. “The demand for chronic drugs may increase by 30% in the short term due to storage,” Singhal added.
Meanwhile, pharmaceutical company sources said each company may not be able to achieve a 10.7% hike across products as market forces keep prices in check.
“Companies already cut production in March in anticipation of the widespread rise in NLEM drug prices. In April, production will increase, but we don’t expect a 10.7% increase for all NLEM drugs,” said the chief executive of a major pharmaceutical company.