New Delhi: Government Initiates Price Reduction for Essential Medicines
In a significant move, the government has announced price reductions for 41 commonly used medicines and six formulations critical in the treatment of diseases such as diabetes, heart conditions, and liver ailments.
The affected medications include antacids, multivitamins, and antibiotics, as outlined in a notification issued jointly by the Department of Pharmaceuticals and the National Pharmaceutical Pricing Authority (NPPA).
Pharmaceutical companies have been directed to promptly communicate the reduced prices to dealers and stockists, ensuring immediate implementation.
This decision was deliberated upon and ratified at the 143rd meeting of the NPPA, underscoring the government’s commitment to maintaining the affordability of essential medicines for the populace.
Given India’s significant burden of diabetes, with over 100 million affected individuals, this price adjustment is poised to benefit a substantial portion of the population grappling with the condition.
Last month, the Department of Pharmaceuticals also announced its annual revised ceiling prices for 923 scheduled drug formulations and revised retail prices for 65 formulations, effective from April 1st.
