National Pharmaceutical Pricing Authority (NPPA), the drug pricing regulator in the country has sought data on 134 generic drugs and four intravenous fluids from drug manufacturers, raising hopes that their prices would eventually come down as a result of this exercise as prices came down twice earlier this year.
The data has to be provided in a prescribed format. It has to be furnished by June 15, 2024. The information sought includes price to retailer and moving annual turnover. The turnover sought should pertain to the period between November 2022 and October 2023.
The price ceiling that NPPA sets becomes the maximum price that a retailer can charge from the customer.
Healthcare inflation has reached 14% which is said to be one of the highest in Asia. If prices of medicines can be checked, it would provide relief to a large section of the country’s population.
Prices of 41 medicines cut
The drug pricing regulatory body’s move raises hopes of a price reduction due to the recent action by the same body.
In May, the government cut the prices of 41 medicines that helped crores of Indians suffering from diabetes, cardiac ailments, liver problems and body pain. Prices of drugs used as antacids, to treat infections and allergies, antibiotics and multivitamins were reduced said a notification of NPPA.
Last month the price of dapagliflozin metformin hydrochloride, which is prescribed for managing blood glucose levels, was brought down from Rs 30 to Rs 16. The price of a tablet of hydrochlorothiazide was brought down from Rs 11.07 to Rs 10.45.
The price of antacid gel too was fixed at 56 paise per mililitre instead of Rs 2.57.
Powder of ceftazidime and avibactam, used to treat infection came down from Rs 4,000 a vial to Rs 1,569.94.
In March this year, the NPPA reduced the price of 69 drug formulations, some of which are used to treat high blood pressure and blood sugar.
In May an NPPA official said to the media that changing prices of medicines and formulations was routine work for them. ” We ensure that there is a ceiling cap on medicines which are essential for the public and the cost remains affordable.”
NPPA was set up in 1997 and is associated with the Department of Pharmaceuticals of the Ministry of Chemicals and Fertilisers.
Healthcare inflation in India is one of the highest in Asia. The drug pricing regulator has taken sought data from manufacturers to set ceiling on some drugs raising hopes of a price cut. Business Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
