Who: Prices of 18 drug formulations
What: Capped by National Pharmaceutical Pricing Authority (NPPA)
When: 29 October 2015
National Pharmaceutical Pricing Authority (NPPA) on 29 October 2015 capped prices of 18 drug formulations like anti-diabetic Metformin HCl tablets, antibacterial Ceftriaxone Sodium injection packs and others.
The revision in respect to 18 formulation packs was done under the Drugs Prices Control Order (DPCO) 2013.
The move is likely to bring down the prices of few medicines for treatment of diabetes, hypertension and severe infections like pneumonia.
The drug pricing regulator, NPPA in a statement said that prices have also been revised and fixed for hormone releasing Intra-Uterine Devices (IUD) used for family planning, and anti-vomiting orally disintegrating strips. This price fixation by the NPPA includes drugs from leading pharmaceutical companies.
Wide-ranging price cuts since 2014 have hit several drug makers in India and have been opposed by many in the industry, who say drug prices in the country are already among the lowest in the world.