Govt Considers Price Control on Nutraceuticals in India

Currently, nutraceuticals fall under the purview of the Food Safety and Standards Authority of India (FSSAI)

July 12, 2024

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Last Updated on July 25, 2024 by The Health Master

Nutraceuticals

The Indian government is exploring ways to make essential health supplements, nutraceuticals more accessible to consumers.

A recently formed panel is evaluating the possibility of bringing nutraceuticals under price control, a move aimed at curbing the rising costs of these products often sold over-the-counter (OTC).

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Current Regulatory Landscape: FSSAI Holds the Reins

Currently, nutraceuticals fall under the purview of the Food Safety and Standards Authority of India (FSSAI).

These products, which encompass vitamins, minerals, probiotics, and health drinks, are categorized as food supplements and are not subject to price regulations unlike prescription drugs.

Industry Under Fire: Exorbitant Prices and Misleading Marketing

According to government sources, pharmaceutical companies have been exploiting this regulatory gap.

They’ve been observed using high-cost Active Pharmaceutical Ingredients (APIs) typically used in prescription medications to manufacture nutraceuticals.

By adding fillers or diluents, they convert these expensive ingredients into over-the-counter supplements and then mark them up significantly.

This practice, coupled with aggressive marketing strategies, has led to a situation where consumers end up paying a premium for what are essentially lower-dose versions of prescription drugs.

A Booming Market: Need for Regulation

The Indian nutraceutical market is projected to reach a staggering $18 billion by 2025, a sharp increase from $4 billion in 2020.

This rapid growth highlights the increasing demand for these products but also underscores the need for stricter regulations to ensure affordability and prevent consumer exploitation.

A Collaborative Effort: Bringing Stakeholders Together

A high-level committee established earlier this year is actively seeking solutions to propose a new regulatory framework for nutraceuticals, including potential price control measures.

Committee members:

Senior officials from the Ministry of Health and Family Welfare,
Department of Pharmaceuticals,
Ministry of Food Processing Industries,
FSSAI,
Drugs Controller General of India (DCGI),
Indian Council of Medical Research (ICMR), and
Directorate General of Health Services,

The Road Ahead: Ensuring Transparency and Consumer Protection

The government’s initiative aims to address the concerns surrounding the pricing and marketing practices within the nutraceutical industry.

By establishing price controls, the government hopes to make these essential health supplements more accessible to a wider segment of the population.

Additionally, the proposed framework is likely to address issues related to interchangeable use of ingredients between pharmaceutical and nutraceutical products, promoting greater transparency and protecting consumer interests.

Disclaimer: This article contains information derived from the source mentioned below. Our team utilized an AI language model to rewrite and present the news or article in a unique format.

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