The government regulates prices of all other medicines.
NPPA's decision would also benefit domestic stent makers.
Refusing to divulge identity of the companies, sources indicated that three of them are based in Delhi and the remaining are in Maharashtra.
GSKAP takes care of all non-nutrition products whereas GSK Consumer Healthcare is a listed entity which deals only in nutritional products.
India has capped the prices of 36 drugs, including those used to treat infections and diabetes, in its latest move to make essential medicines more affordable, a senior official of the country's drug pricing authority told Reuters on Friday.
The National Pharmaceutical Pricing Authority has decided to have one price for basic utility condoms and the other for pleasure condoms.
Industry associations and companies in the United States, including the US Chamber of Commerce, Coalition of Services Industries and the iconic bike company Harley Davidson have called on the Donald Trump dispensation to push India to reduce tariffs, non-tariffs, and regulatory barriers to boost American exports.
Medicines, including antibiotics, contraceptives and anti-diabetic drugs, were found to be out of stock at various places around Delhi.
The medical devices, which have been in high demand during the Covid-19 pandemic, will now see a drop in prices, as the earlier margins were up to 709 per cent for some of these products.
Drug major Novartis has been slapped with a Rs 300-crore penalty by drug regulator NPPA for overcharging consumers on sale of Voveran, its best-selling painkiller medicine.
Hit by the new drug pricing policy and regulatory interventions, growth rate of the Rs 72,069-crore Indian pharmaceutical market has slowed down to 9.8 per cent in 2013 as compared to 16.6 per cent in 2012, says a report.
There may be shortage of drugs till pharmaceutical companies supply new batches with revised MRPs.
In contrast with their strong performance in 2020 and 2021, pharmaceutical and healthcare funds experienced a decline in 2022, with returns plummeting by an average 9.8 per cent. This trend has continued in the current year, with year-to-date return remaining in the negative (-4.9 per cent). In the past three months, pharma funds have been hit hard, experiencing a 7.9 per cent decline.
The government has capped the trade margin on oxygen concentrators at 70 per cent in order to keep in check the price of the much in demand critical life saving component amid the second wave of the coronavirus pandemic. The trade margin has been capped at 70 per cent on price to distributor level on oxygen concentrators. In an official release, the chemicals and fertilisers ministry said the decision has been taken in view of the extraordinary circumstances arising due to the pandemic which has resulted in volatility in Maximum Retail Prices (MRP) of oxygen concentrators.
Unlike India, the US is a free-pricing market.
The regulator is now probing 24 hospitals, including Max Hospital in New Delhi and Lilavati in Mumbai, for allegedly overcharging patients for stents
The investigation against HUL was initiated on the basis of an anonymous complaint. It alleged 'profiteering' of around Rs 535 crore between November 15, 2017, and February 28, 2018.
In a relief to pharma majors, the Delhi high court today held as "illegal and unsustainable" the Centre's decision to put a ceiling on the price of condoms, including the luxury variety.
Do we have enough trained oncologists and medical professionals in India to man these over 4,500 beds in the public sector?
'The first and most basic responsibility of any government is to protect its people from external threats and internal harm.' 'Budget 2025-2026 has to focus on meeting this responsibility,' asserts R Jagannathan.
Face NPPA fine for overcharging on anti-asthma drug
Some of the proposals (for example trade margin calculation for imported medical devices) were not approved by the PMO and were sent back for revisions.
Within six months, outlets carrying Vicks jumped from 60,000 pharmacies to 750,000 general stores. The trade boycott collapsed. Consumers were happy, finding Vicks now at every street corner. A fascinating excerpt from Gurcharan Das's Another Sort of Freedom.
It is a pity that the Modi government, which began on the right note when it came to pricing issues, has changed colour and become interventionist in its impulses, says T N Ninan.
The NPPA letter was issued to GSK on Wednesday.
Even as the Supreme Court had recently dismissed the industry's plea against prices fixed by the regulator and its timely implementation, the National Pharmaceutical Pricing Authority has asked companies to pay the overcharged dues with 15 per cent interest.
The government plans to rationalise trade margins for many other medical devices, besides stents and knee implants.
If people can lobby me for making changes in policies that goes against the country's interest, I won't keep myself in this position, says the vice chairman of NITI Aayog.
Joint Secretary in the health ministry Lav Agarwal said 154 new positive cases of the disease have been reported due to the transit-related history of those who attended the Tablighi Jamaat congregation. These include 23 new cases from Jammu and Kashmir, 20 from Telengana, 18 from Delhi, 65 from Tamil Nadu, 17 from Andhra Pradesh, nine from Andaman and Nicobar Islands and two from Puducherry.
With regulatory uncertainties clouding the future of online pharmacies, deals in the space are showing signs of slowdown, as also fresh investment from private-equity (PE) firms and venture capitalists (VCs). The data from Venture Intelligence shows so far in 2023 (as of June 13) there has been one deal with PE-VC funding. In 2022 there were four, a sharp fall from the 12, totalling $1,520 million, the sector had attracted in 2021.
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
The economics and pricing of the Covishield vaccines and the government's own decision to pay higher prices raise more than a few questions, observes Prosenjit Datta.
In a surprise announcement in April, Sun and Ranbaxy -- at that time owned by Japan's Daiichi -- declared an all-stock deal to create India's largest and world's fifth-largest drugmaker in an over $4 billion deal.
Prime Minister Narendra Modi on Friday received Bhutan's highest civilian award, the 'Order of the Druk Gyalpo', making him the first foreign Head of the Government to receive the honour.
Roche said the Indian regulatory authorities had approved Biocon and Mylan's products as Trastuzumab, but it was unclear if these met the criteria for biosimilar products.
The Central Consumer Protection Authority (CCPA) has imposed a penalty of Rs 1 lakh on e-commerce major Amazon for selling pressure cookers that did not meet quality standards. The CCPA also directed Amazon to notify the consumers of all these 2,265 pressure cookers sold through its platform, recall the products and reimburse the prices to buyers, the Department of Consumer Affairs said in a statement.
In a major step to keep the price of essential medicines under control, the Union government on Friday informed the Supreme Court that 75 new medicines have been added to the essential drugs list after reviewing the pharmaceutical policy, 2002.
'Those giving voice to the voiceless should be welcomed, not punished.' 'Yes, I paid a price -- 10 years in jail -- but it wasn't only me who did so. There are many paying the price.'
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