Life saving drugs prices set to fall soon
New Delhi: Prices of 348 medicines, including life saving drugs will be cheaper soon by up to 80 percent as the new Drug Price Control Order has come into effect.
Industry experts said the implementation of the new drug policy will lead to slashing of prices of many anti-cancer and anti-infective drugs by 50-80 percent.
According to the website of Department of Pharmaceuticals, the government has notified the Drug Prices Control Order (DPCO), 2013, with effect from May 15, replacing the 1995 order.
The new order will give power to the National Pharmaceutical Pricing Policy (NPPP) 2012 to regulate prices of 348 essential drugs.
Drug Prices Control Order 1995 regulated prices of only 74 bulk drugs.
The NPPP 2012 was approved by the Cabinet on November 22, 2012 was later notified on December 7, 2012.
As per the new drugs policy, all strengths and dosages specified in the National List of Essential Medicines (NLEM) 2011 will be under price control.
According to the approved policy, prices of medicines will now be capped by taking simple average of all brands which have more than one per cent market share instead of input costs.
The DPCO 2013, issued under the Essential Commodities Act, 1955, will lay the framework of the drug policy and mechanism of regulating prices.
According to it, the National Pharmaceuticals Pricing Authority (NPPA) will be the implementation authority for the new policy and the new DPCO.
NPPP-2012 took long to finalise due to differences between ministries of health and chemicals and fertilisers. Other stakeholders, industry and NGOs had also expressed their concerns on the pricing model which was suggested.
More from India
More from World
More from Sports
More from Entertaiment
- Rajasthan: Gujjars revive reservation agitation, block rail track
- J Jayalalithaa sworn-in as Chief Minister of Tamil Nadu
- Dr Subhash Chandra Show: Aspiring for more than what you have!
- ISIS to buy first nuclear weapon from Pak?
- Mumbai: CCTV captures assailant with gun at Film City
- Mathura SSP receives death threat letter, message for PM Modi
- BJP now central pole of Indian politics: Arun Jaitley
- Maharashtra FDA sends Maggi noodles for lab testing
- Watch: Fast N Facts @ 7:30pm
- Haridwar: Hotel Radisson Blu sealed for polluting Ganga
- Delhi: Two killed in road accident in New Ashok Nagar
- Girl in Punjab's Pathankot quit studies for fear of eve-teasing
- Reservation issue: Police register case against Bainsla, 20 others
- Special: Furious over rising water crisis, people take to the streets
- Fiji: Floating island restaurant in middle of ocean
- Goa Board SSC Exam Results 2015 announced
- ISIS close to buying nuclear weapon from Pakistan?
- Manohar Parrikar visits forward areas along LoC, reviews security situation
- Credibility of Prime Minister's Office restored by BJP, says Arun Jaitley
- There will be no delay in appointing CIC, CVC: Jitendra Singh
- ISIS justifies raping slave girls, says Michelle Obama is 'worth $40'
- 'Unhappy' Celina Jaitley asks Sunny Leone to move out?
- Arvind Kejriwal to highlight AAP govt's 100 days work on Monday
- IPL 2015 Final: Mumbai Indians vs Chennai Super Kings - Preview
- BJP's plan for one-year celebration: 200 big rallies, 5,000 public meetings
- CBSE Results 2015: 10th board exam results to be declared on May 27
- Heatwave leaves 153 dead in Telangana, Andhra Pradesh
- IPL 8 Final: We need to be at our best against Mumbai, says Michael Hussey
- Jayalalithaa returns as Tamil Nadu CM: As it happened
- Heatwave kills 223 in AP, Telangana, Chandrababu Naidu announces compensation; Delhi records hottest day