Spike in life-saving drug prices leaves consumers struggling

A sudden surge in the prices of life-saving drugs has left consumers reeling, as pharma companies have increased costs by 20-50 per cent over the past six months. Essential medications for hypertension, diabetes, cancer and common gastrointestinal ailments have reached new price highs, while the cost of antibiotics used in surgeries has nearly doubled.

Despite the applicability of the Essential Commodities Price Control Act in the state — which grants district magistrates authority to regulate and take action against price violations — there appears to be no enforcement against the profiteering of pharmaceutical companies.

Social activist Subhash Sharma highlighted shocking discrepancies in drug pricing. For instance, Pantoprazole-40 mg, prescribed for acidity, has an MRP of Rs 130 for a strip of 10 tablets, while its actual cost price is just Rs 20. This exposes profit margins exceeding 90 per cent, with some medications reportedly yielding profits of 1,000 per cent to 1,500 per cent for retailers. “This is only one example,” Sharma said, pointing out that similar price gouging affects hundreds of drugs.

In the absence of stringent checks, companies print exorbitant maximum retail prices (MRPs) on generic medicines, forcing poor patients to pay unjustified amounts. Many accuse administrative bodies and vigilance agencies of turning a blind eye, enabling pharmaceutical companies to exploit consumers.

A senior official from the state Drug Control Department admitted that state authorities have limited powers in this matter. “The Government of India has allowed pharma companies to print MRPs on all drugs, and only the Central Drug Controller can intervene,” the official stated.