As the Indian rupee has continued to plunge against the dollar amid weakness in domestic shares, this has led to a sharp rise in the cost of medicine in the country. According to a report by Live Hindustan, Livemint's sister publication, the prices of medicines have increased by 30% in Uttarakhand. Most of the new batches of medicines available at medical stores are coming with inflated prices in the hilly state, the daily noted.

Pramod Kalani, Head of the Drug Manufacturing Association, said that the raw material of medicines is becoming increasingly expensive in the international market. Due to the strengthening of the dollar against the rupee, the prices of raw materials are also increasing, he said.

The raw material of Paracetamol, which was earlier 5,000 per kg, has now reached 9,000 per kg. Because of this, companies have had to increase the prices of some medicines.

Manish Nanda, Head of the Wholesale Chemist Association, said that in the last month, the price of medicines has increased by 10 to 30%.

State Drug Controller Tajbar Jaggi admitted that drug makers are increasing the prices of medicines because of the hike in crude oil prices. However, he said that the prices of the scheduled medicines which come under price control cannot be increased.

Increase in drug prices

Medicine old rates new rates

Sugar Injection (Ryzodeg) 1024 1126

Sugar Injection (Lentus) 722 794

Sugar medicine (Glycomet) 155 170

Liver Medicine (Udiliv) 580 694

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From BP to sugar, medicines get expensive by up to 30% in this state | Mint - Mint