Ceiling price of 54 drug formulations fixed by government
New Delhi : Pharma prices regulator NPPA has fixed ceiling price of 54 drug formulations used for treatment of cancer, diabetes rheumatoid arthritis, bacterial infections and hypertension.
It has also fixed the retail price of 11 drugs.
"National Pharmaceutical Pricing Authority (NPPA) has fixed/revised ceiling prices of 54 scheduled formulations of Schedule-I under Drugs (Price Control) Amendment Order, 2016 and Retail Price of 11 formulations under DPCO, 2013," the regulator said in a statement.
Last month also it had fixed prices of some drug formulation packs.
The government fixes the prices of essential drugs based on the simple average of all medicines in a particular therapeutic segment, having sales of more than 1 per cent.
Besides, it regulates the prices of all other medicines, while companies are allowed to hike prices of such drugs by up to 10 per cent in a year.
The government had notified DPCO, 2013, which covers 680 formulations, with effect from May 15, 2014, replacing the 1995 order that regulated prices of only 74 bulk drugs.
Set up in 1997, NPPA has been entrusted with the task of fixation/revision of prices of pharma products, enforcement of provisions of the Drugs (Prices Control) Order and monitoring of prices of controlled and decontrolled drugs.