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%.
National Pharmaceutical Pricing Authority (NPPA), drug price regulator, in a notification on its website said it has fixed or revised ceiling prices of 45 scheduled formulations of Schedule-I under Drugs (Price Control) Amendment Order, 2016.
‘The government capped the prices of 42 essential medicines thereby, reducing their cost by up to 15%.’
AdvertisementThe government has capped the prices of 42 essential medicines used in treatment of various ailments including tuberculosis, cancer and cardiac diseases, thereby, reducing their cost by up to 15%.
NPPA said manufacturers not complying with the ceiling price would be liable to deposit the overcharged amount along with interest.