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India’s Drug Authority to Monitor Bulk Drug Prices
February 16, 2008 at 3:00 PM
Drug News
It is to begin analysing pricing trends of 74 bulk drugs that come under the government-notified price-controlled list every quarter.
The authority's comparison will be based on three major parameters -- the notified or approved prices of these bulk drugs, the landed cost of the imported bulk drugs and the prices quoted in the trade journals.
NPPA will notify a revised bulk drug price if aberrations are found among these different price points.
It also plans to intensify its surveillance by tracking the cost audit report that drug companies submit to the department of company affairs.
Bulk drugs (the raw material) account typically for over 70 per cent of the cost of a formulation and currently their prices are notified for three years. Interim revisions take place only if the authority detects substantial fluctuations in retail prices.
In other words, it is not the raw material that is tracked for price movements, but the final product. That scheme of things is to change now, Business Standard newspaper reports.
Incidentally, it has been claimed that the NPPA's price intervention, based on market surveillance, is known to have been very effective between 2005 and 2007. According to an official analysis, instances of drug companies raising prices of price-controlled medicines have come down considerably during this period.
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