According to the projection of the Union of the Pharmaceutical Products Industry (Sindusfarma), disclosed Last Monday, the 27th, drug prices in Brazil should rise by up to 5.6% from April. The annual drug price readjustment index is yet to be announced.
This is because it needs to be calculated by the Medicines Market Regulation Chamber (CMED), a body linked to the National Health Surveillance Agency (Anvisa).
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The Extended National Consumer Price Index (IPCA) is the official indicator for staying in Brazil, used by the Central Bank to control and monitor the country's economic policy.
It is calculated by the Brazilian Institute of Geography and Statistics (IBGE) and measures the price variation of a set of goods and services consumed by Brazilian families.
The medicine readjustment formula is also based on the IPCA accumulated in 12 months until February of each year.
“This readjustment index replaces the losses with inflation and increases in production costs. According to the Brazilian Institute of Geography and Statistics (IBGE), the accumulated inflation between March 2022 and February 2023 is 5.6%”, says Sindusfarma.
The agency justified that the last year was quite atypical for the pharmaceutical industry. This is because the persistent effects of the SARS-CoV-2 pandemic affected production and boosted the prices of APIs (active pharmaceutical ingredients, quoted in dollars).
For this reason, even when readjusting prices according to the authorized index or being forced to reduce discounts on some products, several pharmaceutical industries closed the 2022 balance sheet with reduced margins, according to entity.
However, in addition to the IPCA, the annual recomposition of the Maximum Consumer Price (PMC) table for medicines is also calculated using a formula established by CMED.
This, in turn, considers the productivity of the pharmaceutical industry and production costs not captured by the IPCA, such as exchange variation, electricity tariffs and variation in input prices.
The interministerial body responsible for regulating the medicine market in Brazil meets on Friday, 31st, to define the new readjustment.
According to the law, the readjustment to be applied to the prices of around 13,000 presentations of medication available in the Brazilian retail market is effective as of March 31 of each year.
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