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Regulating drug prices: GoM to meet stakeholders Monday

Last Updated: Sunday, May 13, 2012 - 12:30

New Delhi: A ministerial panel, which is examining the issue of regulating prices of 348 drugs, is likely to meet Monday with stakeholders, including companies and civil society, before finalising the new pharma policy.

"The ministers will listen to all stakeholders including industry, Members of Parliament, NGOs and citizens. A final decision will be taken after listening to all of them," an official told PTI.

In the last meeting, which was held on April 25, Minister of State for Chemicals and Fertilisers Srikant Jena had also said that anybody can come before the Group of Ministers (GoM).

The GoM, headed by Agriculture Minister Sharad Pawar, is examining a draft policy proposing a pricing model that leaves scope for fixing the rate to the industry, subject to a maximum ceiling.

However, the model is being opposed by the NGOs and the Health Ministry as they argue that the pricing would largely be market based even though there is a ceiling. This formula would lead to increase in prices of the essential drugs, they contend.

The draft which has been in the public domain since last year was floated by the Department of Pharmaceuticals.

The Indian pharmaceutical industry is estimated as a Rs 1 lakh crore industry, of which about Rs 48,200 crore is from the domestic market.


First Published: Sunday, May 13, 2012 - 12:30
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