-
ALSO READ
No major impact on prices of Essential Drugs post introduction of GST Government has fixed Ceiling Prices of 849 medicines, including 2 coronary stents, till November 2017: Shri Mansukh L. Mandaviya No plans to revamp NPPA: Govt J B Chemicals & Pharmaceuticals receives EU cGMP approval for facility at Panoli Govt directs Fulfords India to maintain hepatitis injection production -
Prices of 851 essential drug formulations were cut, mostly in the 5-40 per cent range, in the past 2 years, the government said today. In a written reply to the Lok Sabha, Minister of State for Chemicals and Fertilisers Mansukh L Mandaviya said the government has cut the prices of 234 essential drugs by up to 5 per cent. Prices of another 134 formulations were reduced in the range of 5-10 per cent, and of more 98 products by 10-15 per cent. Another set of 98 formulations saw prices reduced by 15-20 per cent.
In addition to that 93 formulations saw prices drop by 20-25 per cent, the minister said. He further said that NPPA (National Pharmaceutical Pricing Authority) also slashed prices of 65 products ranging between 25-30 per cent, 46 products between 30-35 per cent, 24 products in the range of 35-40 per and 59 products over 40 per cent. In a separate reply, Mandaviya said turnover of scheduled formulations stood at Rs 19,877 crore for the year ended December 31. Growth rate for such formulations declined by 3 per cent last year as compared with a growth of 2 per cent in 2016 and 13 per cent in 2015, the minister said. In same time turnover of non-scheduled formulations stood at Rs 96,512 crore last year, a growth of 8 per cent, he added. Total turnover of the both scheduled and non-scheduled formulations stood at Rs 1,16,389 crore, a growth of 6 per cent, the minister said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
RECOMMENDED FOR YOU