Prices of 56 important medicines used in treatment of cancer, diabetes, bacterial infections and blood pressure have been capped by the government, thereby reducing the cost by an average of 25 per cent.
So as to make drugs cheaper and affordable, the National Pharmaceutical Pricing Authority (NPPA) announced that it has revised prices of bulk drugs and formulation.
“Ceiling prices of 31 scheduled formulation packs of intravenous fluids and 25 other formulations have been revised on June 3, 2016, and June 2, 2016, along with eight formulations under the Drugs (price control) amendment order,” the authority said here in a notification here.
Set up by the Union Ministry of Chemicals and Fertilizers, the authority fixes, revises and enforces prices of various controlled drugs. It also levies and collects penalties from manufacturers if customers are overcharged. It also monitors prices of decontrolled drugs to keep them affordable to the needy.
The fresh order supersedes that of March 2, 2016, February 26, 2015 and December 10, 2014 on formulation packs. The ceiling prices are exclusive of local taxes where ever applicable.
Among the medicines whose prices have been revised include glucose and sodium chloride injections and their combined injections. The pharma firms whose drug prices have been revised lower are Abbot Healthcare, Adcock Ingram Healthcare, Alembic, Bennet Pharmaceuticals, Cadila Pharma, Cipla and others.