Last Updated on October 6, 2024 by The Health Master
Pharma Industry
The Indian pharma industry is facing a significant challenge due to the current system of drug price regulation.
When the government sets new ceiling prices for medicines, these changes are implemented immediately, leaving little to no time for manufacturers and retailers to adjust.
This abrupt shift has created logistical nightmares for nearly nine lakh pharmacies across the country.
Industry Proposes Prospective Batch Pricing
To address this issue, industry associations are calling on the Department of Pharmaceuticals (DoP) to adopt a prospective batch pricing system.
This means that any price changes would only apply to new batches of medicines produced after the notification, giving manufacturers and retailers ample time to adjust their inventories and pricing without disrupting the supply chain.
The Role of IPDMS 2.0
The Integrated Pharmaceutical Database Management System (IPDMS 2.0), a platform introduced by the National Pharmaceutical Pricing Authority (NPPA), is expected to play a crucial role in facilitating this transition.
This centralized system collects and manages pricing data for all medicines, making it easier to implement and monitor price changes.
Need for Clear Guidelines
Industry experts emphasize the need for clear and timely guidelines from the DoP regarding stock recalls and price revisions.
This will help manufacturers and retailers avoid potential disputes with consumers and regulatory authorities.
A Step Towards a More Efficient System
The pharma industry is hopeful that the adoption of prospective batch pricing, combined with the effective use of IPDMS 2.0, will create a more streamlined and efficient drug pricing system.
This change could lead to better compliance, reduced litigation, and ultimately, improved access to affordable medicines for patients.
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.
Govt Job: For Drugs Inspector under Public Service Commission
Pharma Companies get more time to clean up their Act
USFDA issues warning letter to Brassica Pharma, Maharashtra
Indian Govt vigilant about quality of medicines: HM
FSSAI: Food Labelling and Display – Chapter-8
Telangana DCA busts illegal API Manufacturing Unit
How to protect your medications during Summers
CDSCO approval granted for New Drug for Diabetic Foot Ulcers
Govt targets Rs. 90,000 crore Pharma Industry under PLI scheme
For informative videos by The Health Master, click on the below YouTube icon:
For informative videos on Medical Store / Pharmacy, click on the below YouTube icon:
For informative videos on the news regarding Pharma / Medical Devices / Cosmetics / Homoeopathy etc., click on the below YouTube icon:
For informative videos on consumer awareness, click on the below YouTube icon:
