National Pharmaceutical Pricing Authority has fixed ceiling prices of 57 drugs and formulations, including painkillers, drugs for treating skin diseases, malaria, heart ailment and cancer
In its continuous effort to keep the prices of drugs under check, the National Pharmaceutical Pricing Authority (NPPA) has again fixed the ceiling prices of 57 drugs and various formulations.
The list includes antibiotics, painkillers, drugs for treating skin diseases as well as cancer drugs. Drugs such as insulin, chloroquine (used for treating of malaria), lignocaine hydrochloride (used to treat disturbances in the heart's rhythm), carbamazepine (used to treat epileptic seizures and nerve pain) and rabies immunoglobin among others. The ceiling prices are effective from April 1.
This follows a recent similar exercise by the regulator where it fixed the prices of 509 drugs and formulations.
A notification on Friday directed all the manufacturers of these drugs to follow and ensure revision of their maximum retail price (inclusive of excise duty and all taxes) of all formulation packs downward. The manufacturer may add local taxes only if they have paid actually or it is payable to the government on the ceiling price mentioned in the table.
The prices of drugs which already below the ceiling price notified by NPPA would be maintained, it said.
"All the existing manufacturers of the mentioned scheduled formulations having MRP lower than the ceiling price specified in the table plus local taxes as applicable, if any, shall continue to maintain the existing MRP in accordance with paragraph 13 (2) of the DPCO, 2013," the notification read.
The regulator, however, said the manufacturer can take price increase of drugs annually in line with the increase in the wholesale price index (WPI).
The company would have to report to the government in Form II of Schedule II to Drugs (Price Control) Order, 2013 within a period of 15 days of such a revision.
Found overcharging, concerned manufacturer would be liable to deposit the amount charged over the ceiling price set by NPPA along with interest thereon from the date of overcharging.
The existing manufacturer is not permitted to increase its price to retailers (PTR) as on September, 2014, except for taking WPI benefit.
Earlier this month, NPPA in another notification said brought 509 formulation packs under ceiling prices effective from April 1. The list included carboplatin injection used for cancer treatment, fluconazole capsules indicated for fungal infections, condoms, Hepatitis B vaccine injection, among others.
The regulator, in a separate notification on March 20, said the annual increase in WPI works out as 3.849% during the calender year 2014 over the corresponding period 2013, as confirmed by the economic adviser (Ministry of commerce & industry).
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