National drug pricing regulator, the National Pharmaceutical Pricing Authority (NPPA), today said it has capped prices of 51 essential formulations, including those used for the treatment of cancer, pain, heart conditions and skin problems.
The prices have been slashed in the range of 6% to 53%.
In separate notifications, the NPPA said it has notified ceiling prices of 13 formulations, while revising the same for 15 formulations. Moreover, retail prices of 23 essential formulations have also been notified.
According to the Economic Times, companies selling their drugs at higher than the prescribed prices will immediately have to reduce them.
Drugs whose ceiling prices have been capped includes colon or rectal cancer treatment drug oxaliplatin (injection 100mg), Japanese encephalitis vaccine and measles rubbela vaccine.
On the other hand, ceiling prices of drugs such as anaesthetic sevoflurane, Phytomenadione (Vitamin K1), and tuberculosis prevention medicine BCG vaccine have been revised.
As reported by the Economic Times, alteplase, used in the treatment of heart attacks and ischemic strokes, now has a ceiling price of Rs 17, 235 for a 20 mg pack and Rs 35,985 for a 30 mg pack, which is nearly 28% lower than the current MRPs.
Similarly, the ceiling price of colorectal cancer drug oxaliplatin is now 48% cheaper than the current MRP. It has now been fixed at Rs 4,055.10 for a 100mg injection pack.
According to highly placed sources in NPPA, the reduction in prices following the latest exercise will range between 6%- 53% percent.
NPPA fixes ceiling price of essential medicines of Schedule I under the Drugs (Prices Control) Order (DPCO) 2013.
In respect of medicines that are not under price control, manufacturers are allowed to increase the maximum retail price by 10 percent annually. The calculation for essential drugs is based on the simple average of all medicines in a particular therapeutic segment with sales of more than 1 percent.
Set up in 1997, NPPA has been entrusted with the task of fixation/revision of prices of pharma products, enforcement of provisions of DPCO and monitoring of prices of controlled and decontrolled drugs.
(WIth inputs from PTI and The Economic Times)
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