NPPA Sets Ceiling Price for 54 Drug Formulations [ Current Affairs ]
The National Pharmaceutical Pricing Authority (NPPA) has set ceiling price of 54 drug preparations rummage-sale for action of cancer, bacteriological infections, diabetes and hypertension. Based on the Schedule-I NPPA has revised/fixed the ceiling prices under Drugs (Price Control) Amendment Order (DPCO), 2016.
- From May 15, 2014 it also has fixed the retail price of 11 drug formulations under DPCO, 2013, which covers 680 formulations with upshot.
What is Drug Pricing and Regulation?
- The Central Government fixes the prices of essential drugs based on the simple average of all medicines in a particular beneficial segment, having sales of more than 1 % in India.
- As part of its efforts to make medicines affordable in the country the drugs are carried under price control.
- It also controls the prices of all other medicines, while pharmaceutical companies are acceptable to hike values of such drugs by up to 10 % in a year.
About National Pharmaceutical Pricing Authority (NPPA)
- NPPA is nodal drug price regulator in India.
- It was established in 1997.
- The Union Ministry of Chemicals and Fertilisers is the executing body of NPPA.
- It is trusted with the task of fixation/revision of prices of pharma products, implementation of supplies of the DPCO and specialist care of prices of controlled and decontrolled drugs.
- Published on: May 13, 2016