Prices of 440 essential medicines reduced

NEW DELHI, 18 July-2014, PTI: Prices of 440 essential medicines have been reduced substantially as on June 30 this year by bringing them under the National List of Essential Medicines, Parliament was informed today.

Prices of 440 essential medicines reduced

Prices of 440 essential medicines reduced

There are 680 formulations under the National List of Essential Medicines (NLEM). Of these, the National Pharmaceutical Pricing Authority (NPPA) has fixed ceiling prices in respect of 440 medicines as on June 30, Minister of State for Chemicals & Fertilisers Nihal Chand said in a written reply in the Rajya Sabha.

“Significant reduction in prices have been effected on the medicines notified under DPCO,2013,” he added.

The Minister said of the 440 formulations under NLEM, prices of 113 drugs have been reduced by as much as 40 per cent.

Similarly, prices of 34 drugs have gone down by 35-40 per cent, 27 drugs by 30-35 per cent, 43 drugs by 25-30 per cent and prices of 58 drugs have been reduced by 20-25 per cent.

Prices of 40 drugs have declined by 15-20 per cent, price of another 49 drugs reduced by 10-15 per cent, while 76 drugs have become cheaper by up to 10 per cent after fixing price ceiling under Drug Price Control Order (DPCO) 2013.

Drug pricing regulator NPPA has also fixed the prices of 108 anti-diabetes and cardiovascular formulations, leading to the price reduction of these drugs, Chemicals and Fertlisers Minister Ananath Kumar said in a separate reply.

The government had notified DPCO 2013 that covers 680 formulations, with effect from May 15, replacing the 1995 order that regulated prices of only 74 bulk drugs.

The National Pharmaceutical Pricing Policy (NPPP) 2012 was approved by the Union Cabinet on November 22, 2012 and later notified on December 7, 2012.

Posted by on July 18, 2014. Filed under Economy. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.