Drug prices to fall by 80%

Mumbai, May 17 – The government on Thursday issued the long-pending drug price control order, paving the way for the implementation of national pharmaceutical pricing policy, which will lead to a reduction in prices of medicines on an average by 20-25%, and in some life-saving ones, by up to 80%.

 

Prices of 652 formulations under 27 therapeutic areas like anti-allergic (cetrizine), cardiac (aten), gastro-intestinal medicines (ocid), pain-killers ( paracetamol) and anti-diabetic drugs (insulin) are expected to come down. Others in the list include anti-fungal, anti-tuberculosis, anti-leprosy, anti-hypertensives and cancer drugs. In certain cancer drugs, prices may come down by up to 80%.

 

The policy though cleared by the Cabinet on November 22 last year, was delayed due to the absence of the DPCO. The DPCO 2013-as reported by TOI first on May 16-will regulate prices of drug formulations on the basis of a market-based mechanism, as against a cost-based system which existed till now. Source: TNN