Fixation of Prices of Drugs

by Medindia Content Team on  November 27, 2006 at 8:22 PM Drug News   - G J E 4
Fixation of Prices of Drugs
The 74 bulk drugs including some anti-allergy drugs and pain killers specified in the First Schedule of the Drugs (Prices Control) order, 1995 (DPCO, 95) and the formulations based thereon are under price control and their prices are fixed/revised by the National Pharmaceutical Pricing Authority (NPPA) in accordance with the provisions of the DPCO, 95. In case there is any violation of approved/notified price of a Schedule formulation, action is taken under the provisions of the DPCO, 95.

Prices of non-Scheduled formulations are fixed by the manufacturers themselves keeping in view the various factors like cost of production, marketing/selling expenses, R&D expenses, trade commission, market competition, product innovation and product quality. The Government takes corrective measures where the public interest is found to be adversely affected.

This information was given by the Minister of State for Chemicals & Fertilizers, Shri B.K. Handique, in a written reply in the Lok Sabha today.

Source: PIB

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