COVID-19 drug Remdesivir being sold for 10 times the MRP, no plans on price capping yet

While India continues to reports a new single-day high in terms of COVID-19 cases every day, black marketeers are cashing in on it and selling life-saving coronavirus drug Remdesivir for as much as 10 times its actual MRP.

On Sunday, seven persons were arrested by the Mumbai Police for allegedly selling Remdesivir injections, currently being used to treat COVID-19 patients, at a price higher than the market price.

In India, there are only three companies that manufacture the drug. While Cipla Ltd has priced Cipremi, its generic version of remdesivir, at Rs 4,000 per 100 mg vial, Hetero Healthcare's Covifor costs Rs 5,400. On Monday, Global pharmaceutical company Mylan launched its remdesivir which will be priced at Rs 4,800.

Due to the lack of price cap, companies are selling the drug at their own prices. It may be noted that the difference between Cipla and Hetero's remdesivir is Rs 1,400

The National Pharmaceutical Pricing Authority (NPPA), a government regulatory agency that controls the prices of pharmaceutical drugs in India, is yet to announce a cap on the price of remdesivir. Sources quoted by Zee Business have said that an advisory to reduce prices for companies against orders is possible. 

However, the sources added, there's a risk of a shortage of supply in the market if the price is capped.

There have also been reports that the Search Results Council of Scientific & Industrial Research (CSIR) has suggested a price cap with respect to the cost of production.