Drug price regulator NPPA has fixed the ceiling price of 27 drug formulation packs, including those used for the treatment of bacterial infections, diabetes, epilepsy among others.
Besides, the drug price regulator has also fixed the retail price of four formulations.
"NPPA has fixed/revised ceiling prices of 27 scheduled formulations of Schedule-I under Drugs (Price Control) Amendment Order, 2016 and and retail price of four formulations under DPCO, 2013," the National Pharmaceutical Pricing Authority (NPPA) said in a statement.
Earlier this month, the NPPA had fixed ceiling price of 54 drug formulations used for treatment of cancer, diabetes rheumatoid arthritis, bacterial infections and hypertension.
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, the 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.
