The decision is in response to requests made by importers Eli Lilly and Pfizer, who wanted an increase in the prices of specific brands on the grounds that the rupee had depreciated against the dollar, leading to an increase in the import cost. The price revision covers 13 brands of Eli Lilly and six of Pfizer.
The NPPA has also approved minor price reduction for two insulin-based medicines imported by Sanofi Aventis. The price revision is in the range of 2-5 per cent. Thus, a 3 ml catridge of Eli Lilly's human insulin injection may now cost just over Rs 211, instead of around Rs 205.
The Indian anti-diabetic medicine market is estimated at over Rs 1,000 crore.
Industry experts termed the price revision as "routine", as pharmaceutical companies are not allowed to market imported drugs that come under the price control category without approval from the NPPA.
Even though the pharma regulator approves a higher ceiling price for insulin-based medicines, companies often sell them below the ceiling price due to intense competition in the Indian market, they added.
