Prices Of 1,000 Generic Drugs To Drop Sharply

Prices of 1,000 generic drugs to drop sharply

Press Trust of India / New Delhi September 29, 2006

The prices of close to 1,000 brands of 'generic-generic' and 'branded generic' drugs, including Omeprazole and Ciprofloxacin, are set to crash by up to 92% with the pharma industry agreeing to a government proposal on capping trade margins.

A senior government official said here that in the meeting of the joint committee headed by Chemicals and Petrochemicals Secretary Satwant Reddy, industrial bodies have submitted a list of around 1,000 brands of generic-generic and branded generic drugs, whose sale would be subjected to a cap in trade margins.

"Just a few companies have yet to submit their list, while most manufacturers have already submitted," the official said.

It has been agreed that the retail margins for these drugs would be kept at 35% while the wholesale margins would be 15%.

The committee, however, has not been able to finalise on the mechanism of controlling prices of drugs under the natiolanl list of essential medicines, which was to be put in the draft pharma policy.

"Apart from a cost based pricing control, the industry representatives also suggested reducing and freezing of prices and then check the increase," the official said, adding a final mechanism was being worked out.

The Satwant Reddy Committee, which was supposed to submit its report tomorrow, has extended the deadline and will be submitting it by the middle of October, he added.

The offical said a final draft of the proposed pharma policy was expected by October-end which would then be sent to the Cabinet for its approval.

Source:-http://www.business-tandard.com/common/storypage_c.php?leftnm=11&bKeyFlag=IN&autono=6310

Important Note :The above information is intended to supplement, not substitute for, the expertise and judgment of your physician, pharmacist or other healthcare professional. It should not be interpreted to indicate that use of the medication is safe, appropriate, or effective for you. Consult your healthcare professional before using any medicine.


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Important Note :The above information is intended to supplement, not substitute for, the expertise and judgment of your physician, pharmacist or other healthcare professional. It should not be interpreted to indicate that use of the medication is safe, appropriate, or effective for you. Consult your healthcare professional before using any medicine.