The National Pharmaceutical Pricing Authority (NPPA) has fixed/revised ceiling prices of 24 scheduled formulations of Schedule-I under Drugs (Price Control) Amendment Order, 2016 and retail price of 31 formulations under DPCO, 2013 through a notification dated July 29, 2016.
In a bid to provide affordable medicine to all, essential drugs used for the treatment of many life threatening diseases will cost less.
The price of 24 essential medicines used to treat cancer, HIV, bacterial infections, anxiety and cardiac conditions have been capped by the government, reducing the cost by an average of around 25 percent.
Drug pricing regulator said, “National Pharmaceutical Pricing Authority (NPPA) has fixed/revised ceiling prices of 24 scheduled formulations of schedule-I under Drugs (Price Control) Amendment Order, 2016.” It has also capped the retail price of 31 formulations under DPCO, 2013, NPPA said. Bhupendra Singh, chairman NPPA said,
“The prices of 24 drugs have been reduced on an average of 25 percent. In some cases the reduction is 10 to 15 percent while for others it is up to 30 to 35 percent.”
Retail price is applicable only to the individual manufacturers/marketeers i.e. who have applied for the same by submitting Form-I for price fixation/revision as stipulated under DPCO, 2013 and subject to fulfillment of all the applicable statutory requirements as laid down by the government under relevant statutes/rules, including manufacturing license permission from the Competent Authority i.e. the Central/State Licensing Authority, as may be applicable, by the concerned manufacturers/marketing companies.
The concerned manufacturers of said formulations shall furnish quarterly return to the NPPA, in respect of production/import and sale of product in Form-III of Schedule-II of the DPCO, 2013 through IPDMS. Manufacturers in case intending to discontinue above said formulations, shall furnish information to the NPPA, in respect of discontinuation of the production and/or import of above said formulation in Form-IV of Schedule-II of the DPCO, 2013 at least six months prior to the intended date of discontinuation.
In case the retail price of any of the formulations is not complied with, as per instant price notification and notes specified, then the concerned manufacturer/marketing company shall be liable to deposit the overcharged amount along with the interest thereon under the provisions of the DPCO, 2013 read with the Essential Commodities Act, 1955.
Consequent to the issue of retail price of the formulations as specified in this notification, the price order(s) if any, issued for concerned manufacturer/marketeer prior to said date of notification, stand(s) superseded.