Patients save Rs 11,365 crores due to price cap on drugs, medical devices: Govt
New Delhi: Capping of prices of medicines and medical devices, including stents and knee implants, has helped patients save a total of Rs 11,365.61 crore till December 2017, Parliament was informed.
Ceiling prices of 851 formulations (including two coronary stents) under Revised Schedule - I based on National List of Essential Medicines (NLEM), 2015, were fixed till December 2017, Minister of State for Chemicals and Fertilisers Mansukh L Mandaviya said in a written reply to the Rajya Sabha.
The government by implementing the provisions of DPCO, 2013 has helped the consumers save Rs 11,365.61 crore, Mandaviya said.
The National Pharmaceutical Pricing Authority (NPPA) fixes the ceiling prices of medicines listed in the Schedule - I of Drugs (Prices Control) Order (DPCO), 2013.
Savings from capping of the price of drugs under NLEM 2011 were Rs 2,422.24 crore, while the same for NLEM 2015 were 2,643.37 crores.
Consumers also benefited by Rs 4,450 crore from price control of coronary stents. Similarly, price cap on knee implants resulted in savings of 1,500 crore and Rs 350 crore savings resulted from cardio and anti-diabetic category till December 2017, the minister added.