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The seventy four bulk drugs specified in the first schedule of the Drugs (Prices Control) Order, 1995 (DPCO,95) and the formulations based thereon are under price control and their prices are fixed/revised by the National Pharmaceutical Pricing Authority in accordance with the provisions of the DPCO,95. The formula for calculation of retail price of formulations under Para VII of DPCO, 1995 takes into account excise duty element also.
Prices of non-scheduled formulations are fixed by the manufacturers themselves keeping in view the various factors like cost of production, marketing, selling expenses, R&D expenses, trade commission, market competition, product innovation and product quality etc. The Government take corrective measures where the public interest is found to be adversely affected.
This information was given today in the Lok Sabha by the Minister of Chemicals & Fertilizers and Steel, Shri Ram Vilas Paswan in a written reply to a question by Shri Pankaj Chowdhary.
BJ/PM
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