Prices of 56 important medicines used in treatment of cancer, diabetes, bacterial infections and blood pressure have been capped by the government, thereby reducing the cost by an average of nearly 25 per cent.
Products of major pharmaceutical firms, including Abbott Healthcare, Cipla, Lupin, Alembic, Alkem Laboratories, Novartis, Biocon, Intas Pharmaceuticals, Hetero Healthcare and erstwhile Ranbaxy (now Sun Pharmaceutical Industries) will be affected by the new price cap announced by drug price regulator National Pharmaceutical Pricing Authority (NPPA).
NPPA however, has also increased prices of some of the smaller volume packs of commonly used intravenous fluid such as glucose and sodium chloride injections.
“The prices of drugs have been reduced on an average of 25 per cent. In some cases the reduction is 10 to 15 per cent while for others it is up to 45 to 50 per cent also,” NPPA Chairman Bhupendra Singh said.
He further said of these, for the 31 scheduled formulations packs of IV Fluids, NPPA has increased prices in case of small volume packs while reducing it for large volume packs.
The capping of the prices of 56 scheduled formulations of Schedule-I is being carried out under Drugs (Price Control) Amendment Order, 2016, and retail prices of eight formulations under DPCO, 2013.