Pharmaceutical Industry Indian Authorities Review Pharmaceutical Prices
India's National Pharmaceutical Pricing Authority (MPPA) has reviewed of 154 pharmaceuticals, fixing ceiling prices for 138 drug formulation packs. Company specific Non-ceiling prices have been fixed in case of 16 packs of drug formulation.
New Delhi/India – The prices have been fixed for the first time in respect of 33 drug formulation packs. No price increases have been allowed in respect of 17 packs keeping the consumer interest in view. In the case of 80 packs, the prices have been reduced from the existing level ranging from 0.12 to 37.76 per cent. In the case of 24 packs, prices have been increased ranging from 0.64% to 31.40% to accommodate the unavoidable increase in input Raw material cost, Conversion cost, Packing Charges and Packing Material Norms in order to make availability of the essential drugs to the consumers. In absolute term the price reduction ranges from Rs. 0.04 to Rs. 3.52 per pack.
Price Reductions of Up to 37 Percent
The drug formulation containing the Vitamin C & its derivatives have been revised on Suo-moto basis to pass on the benefit of reduction in bulk drug prices to consumers as manufacturers failed to send price revision application to NPPA within the stipulated time limit of 30 days as per DPCO, 1995. In these cases the prices have been reduced ranging from 0.12 to 37.76% than the existing price resulting lower price for Vitamin C formulations which will benefit the consumers at a large.
Cheaper Bulk Pharmaceuticals for India's Poor?
The prices were fixed in respect of derivative formulations of the bulk drugs namely, Aspirin with Rosuvastatin (Cardiovascular), Cefotaxime (Antibacterial), Chlorpromazine with combination (Antipsychotic), Vitamine E (Tocopheryl) (Vitamin E Supplement), Streptomycin with Penicillin (Antibiotic), Norfloxacin (Antibacterial), Vitamin C with combination (Vitamin C Supplement and Antioxidant), Sulphadoxine with combination (Antimalarial), Dexamethasone with combination (Anti-inflamatory), Multivitamin with Vitamin C (Vitamin Supplement) and Insulin formulations etc..