Prices of 90 cancer medicines cut by up to 87%
The National Pharmaceutical Pricing Authority (NPPA) has reduced the MRP of 390 non-scheduled cancer medicines have been reduced by up to 87%. NPA has asked the manufacturers and hospitals to revise the prices based on the trade margin formula.
The release by the NPPA states that five brands will see a price reduction of about 70%, while 12 others will see a 50-70% price cut. MRPs of 45 cancer medicines will reduce by 25%.
Benefits from the Move
- This price reduction is expected to result in annual savings of around Rs 800 crore for patients.
- The price reduction is expected to benefit about 22 lakh cancer patients in India.
National Pharmaceutical Pricing Authority
National Pharmaceutical Pricing Authority (NPPA) constituted in 1997 is an independent Regulator for pricing of drugs and to ensure availability and accessibility of medicines at affordable prices under the Ministry of Chemicals & Fertilizers.
The functions of NPPA include:
- To implement and enforce the provisions of the Drugs (Prices Control) Order.
- To monitor the availability of drugs, identify shortages, if any, and to take remedial steps.
- To collect and maintain data on production, exports and imports, the market share of individual companies, the profitability of companies etc, for bulk drugs and formulations.
- To undertake relevant studies with respect to the pricing of drugs and pharmaceuticals.
- To render advice to the Central Government on changes and revisions in the drug policy.
- To render assistance to the Central Government in the parliamentary matters relating to the drug pricing.
NPPA implements the National Pharmaceutical Pricing Policy 2012. NPPA provides ceiling price to all Drugs notified under Schedule-I of the DPCO, 2013 and monitors annual price increase for these and the non-scheduled drugs.