The NPPA's move is aimed at passing on benefits of reduction in the Customs duty on basic chemicals and active pharmaceutical ingredients (APIs) announced in the Budget to the consumer. |
The authority on March 21 notified revised prices of 34 APIs where Customs reduction was in the range of 5-7.5 per cent. Companies using these APIs as ingredients in their medicines will have to make proportionate reduction in the prices of their drugs within 15 days of notification. |
The NPPA also plans to issue a detailed notification identifying the revised ceiling prices for all 75 medicines soon. |
The NPPA's decision may compel all major pharmaceutical companies like Nicholas Piramal, Cipla, Workhardt etc to revise their medicine prices. |
According to NPPA sources, the reduction in Customs duty has not only reduced the prices of several medicines, but also resulted in nullifying the chances of an upward revision in a large number of cases. |
India imports around Rs 2,000 crore worth APIs for use in medicine production. The Customs duty benefit on these products will now be passed on to the consumer. |
The APIs whose prices have undergone downward revision include frusemide, nalidixic acid, chloroquine phosphate, carbamezapine, salbutamole sulphate, cefadroxyl and dextropropoxyphene prednisolone cefotaxime etc. |
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories
Over 30 subscriber-only stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app