New Delhi: Drug regulator National Pharmaceutical Pricing Authority (NPPA) has fixed the price of 70 drug formulation packs, including those used for treatment of bacterial infections, tuberculosis and cancer.
Besides, it has also fixed the retail price of two formulations including Clobetasol Propionate plus Salicylic Acid Ointment.
"NPPA has fixed ceiling prices of 70 scheduled formulations of Schedule-I under Drugs (Price Control) Amendment Order, 2016, and retail price of two formulations under DPCO, 2013," NPPA said in a statement.
Last month, NPPA had fixed the ceiling price of as many as 103 drug formulation packs, including those used for treating HIV/AIDS, bacterial infections, tuberculosis, high blood pressure, epilepsy, Hepatitis C and diabetes.
At present, the government fixes the prices of essential drugs based on the simple average of all medicines in a particular therapeutic segment, having sales of more than 1 per cent.
Besides, the government regulates the prices of all other medicines and companies are allowed to hike prices of such drugs by up to 10 per cent in a year.
The government had notified DPCO, 2013, which covers 680 formulations, with effect from May 15, 2014, replacing the 1995 order that regulated prices of only 74 bulk drugs.
Set up in 1997, NPPA has been entrusted with the task of fixation/revision of prices of pharma products, enforcement of provisions of the Drugs (Prices Control) Order and monitoring of prices of controlled and decontrolled drugs.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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