Last Updated on July 7, 2024 by The Health Master
Ceiling Prices
The National Pharmaceutical Pricing Authority (NPPA) is taking steps to ensure greater transparency and affordability in essential medicines to fix ceiling prices of 138 drugs (134 schedules formulations & four IV fluids).
In a recent move, the Authority has requested manufacturers and marketing companies to submit crucial pricing data for remaining formulations under the National List of Essential Medicines (NLEM), 2022.
Shifting Gears
Previously, the NPPA relied on data from July 2022 to set ceiling prices for essential medicines under the revised Schedule I of the Drugs (Prices Control) Order (DPCO), 2013.
However, in a meeting held on January 24, 2024, the Authority decided to leverage a more recent market snapshot.
What Data is Needed?
The NPPA is seeking information on Price to Retailer (PTR) and Moving Annual Turnover (MAT) for October 2023.
This data will provide a clearer picture of current market trends and production costs.
Manufacturers and marketing companies must submit this information within ten days of receiving the official notice (issued June 5, 2024).
Focus on Essential Fluids
The data request specifically targets 134 formulations and four key Intravenous (IV) fluids: glucose, glucose with sodium chloride, sodium chloride, and ringer lactate.
These essential fluids play a vital role in various medical treatments.
Aligning with Regulation Updates
This shift to October 2023 data aligns with Para 9(7) of the DPCO, 2013, which empowers the government to consider up-to-date market data for price fixation when deemed necessary.
This ensures that ceiling prices reflect current production costs and market dynamics.
Building on Previous Practices
The NPPA has already successfully fixed ceiling prices for 700 formulations under NLEM, 2022, using the July 2022 data.
This new data collection exercise aims to complete the price revision process for the remaining 225 formulations.
Transparency Throughout the Process
The October 2023 data will account for the latest Wholesale Price Index (WPI) adjustments made by companies in their PTR calculations.
This transparency ensures that both consumers and manufacturers benefit from a fair and data-driven pricing system.
Looking Ahead
By incorporating recent market data, the NPPA strives to create a more dynamic and responsive price control mechanism for essential medicines in India.
This ongoing initiative aims to ensure affordability and accessibility of critical healthcare products for all citizens.
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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