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National Pharmaceutical Pricing Authority (NPPA) has not revised the prices of any scheduled formulation after allowing the abatement on retail price for levy of excise duty by Ministry of Finance on 8.1.2005. The prices of scheduled formulations are not likely to go up due to this change. This information was given to Rajya Sabha today by the Minister of Chemicals & Fertilizers and Steel, Shri Ram Vilas Paswan in a written reply to a question by Shri C.Perumal.
In written reply to another question by Shri Gireesh Kumar Sanghi, the Minister said that the Drug Policy as amended from time to time, is directed towards ensuring abundant availability of quality drugs at reasonable prices. The 74 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. Prices of non-scheduled formulations are fixed by the manufacturers themselves, however, the Government takes corrective measures where the public interest is found to be adversely affected. This power of Government applies to patented medicines as well.
BJ:PM
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