The latest National List of Essential Medicines (NLEM) will likely have a mixed impact on drugmakers, as the government brings 34 new drugs — including anti-cancer drugs, antibiotics and vaccines — under its purview and deletes 26.

The NLEM 2022 has a total of 384 drugs spread across 27 categories. The government regulates the prices of the drugs mentioned in the list keeping in mind aspects such as cost, safety, and efficacy.

According to brokerage Anand Rathi, drugmakers like Sanofi, GSK, Macleods, and Mankind will take the biggest hit due to the addition of medicines in the NLEM 2022.

Sanofi's Lantus, GSK's T Bact and Ceftum, Macleods' Meromac, and Mankind's Cefakind are the top five brands added to the list, together accounting for sales worth Rs 1,378.9 crore, according to the brokerage.

Sanofi’s Lantus costs 8-11 percent more than the average price, and GSK’s T Bact is 11-13 percent above the average price, the brokerage said in a research report.

On the other hand, removal of the drug ranitidine among the 26 drugs will likely be a relief for JB Chemicals, whose brand Rantac has been impacted by erratic raw material prices.

Around 30-33 percent of the company’s portfolio is under the essentials list, which should come down to 20-22, in line with peers, after the latest changes, according to Anand Rathi.

Released the National List of Essential Medicines 2022.

It comprises 384 drugs across 27 categories.Several antibiotics, vaccines, anti-cancer drugs and many other important drugs will become more affordable & reduce patients’ out-of-pocket expenditure. pic.twitter.com/yz0Fx8er78— Dr Mansukh Mandaviya (@mansukhmandviya) September 13, 2022

Here are the 10 companies with maximum exposure to the NLEM, according to the brokerage:

Cipla

JB Chemicals

Cadila

Dr Reddy's

Alkem

GSK Pharma

Lupin

IPCA

AstraZeneca

Glenmark

The full impact of the hikes in prices of the drugs will be visible in the financial earnings for the quarter ending September 2022, the brokerage said.

Formulated in 1996, the NLEM was revised in 2003, 2011, and 2015.

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