A new pharmaceutical policy, moved by Chemicals Minister Ram Vilas Paswan for Cabinet approval, aims at bringing 34 per cent of all drugs marketed in the country under price control.
It aims at slashing the average market prices from 10 to 30 per cent for low-end brands and from 30 to 60 per cent for high-end ones.
A proposal to check the prices of patented medicines and select medical devices through government-industry talks has also been made.
The proposals, if cleared, would make way for government control over 17,000 specific formulation packs worth around Rs 7,000 crore, industry sources said.
The proposal for more price control, which has been vehemently opposed by the industry, came after the ministry decided to go by a Supreme Court (SC) order asking the ministry to formulate appropriate criteria to ensure that essential and life-saving drugs did not “fall out” of price control.
Tuesday, January 2, 2007
Govt seeks more control over pricing of drugs
BS reports
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