New Delhi : In a move that is likely to bring down prices of some of the key medicines, drug pricing regulator National Pharmaceutical Pricing Authority (NPPA) has fixed the price of 108 non-scheduled formulation packs of 50 anti-diabetes and cardiac medicines. This is the latest in a series of blows to drug makers operating in India.
“The NPPA…is of the considered view that there exist huge inter-brand price differences in branded-generics/off-patent drugs, which is indicative of a severe market failure, as different brands of the same drug formulation, including the off-patent drug…vary disproportionately in terms of price,” the drug price regulator said.
The drugs that will become cheaper would include Gliclazide, Glimepride, Miglitol, Repaglinide, Pioglitazone, Sitagliptin, Voglibose, Acarbose, Metformin HCl, Amlodipine, Atorvastatin, Bisoprolol, Carvedilol, Clopidogrel, Diltiazem, Enoxaparin, Esatenolol, Fenofibrate, Heparin, Labetalol, Metolazone, Nebivolol, Nicorandil, Olmesartan, Prazosin, Propranolol, Trimetazidine, Valsartan, among others.
Commenting on the development, Angel Broking VP Research – Pharma Sarabjit Kour Nangra said: “It is estimated that around Rs 5,500 crore of the pharma market will be impacted, with the range of prices being reduced from 10-15 % to as high as 35 %, with the average reduction around 12%”. What makes the development significant is that NPPA has fixed prices of those medicines which are not listed under the national list of essential medicines, Nangra said.
However, industry players have criticised the decision. “Once you set up a policy, you have some level playing and then you change the game suddenly which is not very fair,” said Kewal Handa former MD of Pfizer told CNBC TV18.
Ramesh Swaminathan, CFO of Lupin, termed the price-control measure “a derogatory step”.
