NPPA REVISES CEILING PRICES OF OVER 900 DRUG FORMULATIONS
Why in the news?
NPPA revised prices of over 900 drug formulations with a marginal hike, part of a routine exercise in pharmaceutical pricing.
About the NPPA’s Revision of Drug Formulation Prices:
- Marginal price increase observed in antibiotics and painkillers effective from Monday.
- The National Pharmaceutical Pricing Authority (NPPA) permitted a slight price hike for specific medicines by 0.00551%.
- The Department of Pharmaceuticals issues an annual list of revised ceiling prices for 923 scheduled drug formulations.
- Additionally, retail prices of 65 formulations have been revised.
- Price adjustment is part of the routine process.
- In 2023, medicine prices witnessed a 12% increase.
- In 2019, emergency measures were taken by NPPA, raising ceiling prices of 21 essential drugs by 50% due to discontinuation threats by several companies over high costs.
Source:scribd
What is NPPA (National Pharmaceutical Pricing Authority?
● NPPA (National Pharmaceutical Pricing Authority) established in 1997 under the Department of Pharmaceuticals. ● Mandated to regulate drug pricing and ensure accessibility of medicines at affordable rates. ● Enforces Drugs (Prices Control) Order, monitors availability, handles legal matters, and collects data on pharmaceuticals. |