MUMBAI, 9 DEC:
Prices of 652 commonly used medicines under 27 therapeutic areas are
likely to come down by 10-15% once the National Pharmaceutical Pricing
Policy 2012 is notified, which is expected in a few days. The policy,
which caps prices of essential drugs, was finalized recently after
several twists and turns over the years.
It will cover a wide range of drugs, such as anti-infectives
(Cetrizine), cardiac (Aten) and gastro-intestinal medicines (Ocid),
pain-killers (Paracetamol) and anti-diabetic drugs (insulin).
Imported medicines which are part of the essential drugs list
will, for the first time, come under the policy's purview and face
regulatory control. For example, prices of insulin, which companies like
Eli Lilly and Novo Nordisk import into the country, will now be capped.
To promote indigenous research, prices of original research
products having a patent in India will be exempt from price control for
five years, sources said.
The policy will cover about 30% of the over Rs 67,000 crore
domestic pharmaceutical market. The ceiling price will be computed using
"the simple average method" of all drugs with over 1% market share
under a particular therapeutic area. Meanwhile, the Supreme Court will
hear on December 12 an ongoing case to reduce prices of essential drugs.
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