gibreel ferishta's Library tagged NPPA →  View Popular

Medicines sold at government-set prices have become cheaper by nearly 3% after the country’s drug price regulator ordered a price cut
in the wake of the recent cut in excise duties.

The government last weekend announced a 4% cut in excise duties as part of a fiscal stimulus package to boost the economy. Various industries, most notably the automobile industry, have announced price cuts as companies look to pass on the benefits of the duty cut to consumers to boost demand.

The drug price regulator — the National Pharmaceutical Pricing Authority (NPPA) — notified the 2.84% price cut on Thursday and its decision is effective immediately. The price cut will cover about 17% of the Rs 45,000-crore domestic pharmaceutical market. The market segment affected by the price cuts has revenues of Rs 7,800 crore, industry officials say.

economictimes.indiatimes.com/...3825540.cms - Preview

pharma drugs price-control medicines excise NPPA

In view of the robust growth of the pharmaceutical sector, the Government has decided in-principle to create a separate department dedicated to the sector, Union Minister of Chemicals and Fertilisers Ram Vilas Paswan said on Tuesday.

Addressing the media, the Minister said the proposed department for the pharma sector would be carved out from the existing chemical and fertilizer department, which is now also taking care of the sector.

Responding to a question on the demand of the Indian Drug Manufacturers Association (IDMA) for revising the ceiling prices of 33 bulk drugs in the wake of the appreciating dollar against the rupee, the Minister said, “In a situation where the profit margins are as high as 200 per cent, there is no possibility of any company closing its manufacturing business due to the price control mechanism of the government.

www.hinduonnet.com/...print.pl - Preview

pharma drugs NPPA IDMA pharmaceuticals regulation