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Expansion
The National Pharmaceutical Pricing Authority (NPPA), the regulatory agency for drug prices, has fixed the retail price of 84 drugs. Among these, medicines used in the treatment of diabetes, headache, high blood pressure are prominent. This move will also reduce the cost of medicines useful in reducing cholesterol and triglyceride levels.
If any drug manufacturer or marketing company has charged a higher price, then the additional cost will be recovered from them along with interest. After the change, GST will remain separate, but drug manufacturers will be able to recover it only if they themselves have also paid GST on the retail price to the government. According to the NPPA notification, a paracetamol-caffeine tablet will cost Rs 2.88, voglibose and (SR) metformin hydrochloride tablet will cost Rs 10.47 and rosuvastanin aspirin and clopidogrel capsule will cost Rs 13.91.
The function of the NPPA is to fix the price, control and provide directions for maintaining the availability of medicines and formulations in the country. If a drug producer charges a higher price, it is recovered from him. Medicines which are not in the price control list, this agency monitors them.
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