Ceiling of drug prices helped save Rs 11,463 crore to public: Govt

New Delhi: The government said fixation of ceiling prices of medicines has resulted in a saving of Rs 11,463 crore to the public after the implementation of the Drugs Prices Control Order 2013.

The information was given in a written reply to a question in the Lok Sabha on the benefits accrued to citizens due to the reduction in the prices of essential medicines in recent past.

"...fixation of ceiling prices/MRP of medicines has resulted in a total saving of Rs 11,463 crore to the public after implementation of DPCO, 2013," Minister of State for Chemicals and Fertilizers Mansukh L Mandaviya said.

This includes the saving of Rs 4,547 crore on account of fixation of ceiling price of coronary stents (including re-fixation) and Rs 1,500 crore on account of price fixation of knee implants, he added.

Giving details, Mandaviya said since May 2014 to February 2016, consumers saved Rs 2,422 crore under the National List of Essential Medicines (NLEM), 2011.

During the period from March 2016 to June 2018, public saved Rs 2,644 crore under NLEM (2015), he added.

A total saving of Rs 4,547 crore reported due to fixation of ceiling prices of coronary stents in Feb 2017, including re-fixation in Feb 2018.

People saved Rs 1,500 crore on account of fixation of the prices of knee implants in Aug 2017, the minister said.

Consumers saved Rs 350 crore on account of fixation of prices of cardiac and anti-diabetic drugs in July 2014, under provisions of Para 19 of the DPCO 2013, Mandaviya said.

Till June 2018, the government has fixed the ceiling prices of 851 medicines, including 4 medical devices under revised schedule - I based on the National List of Essential Medicines, 2015 (NLEM, 2015), he added.