Drug price News

Fortis Healthcare has rejected charges of overpricing the medicines that it is giving to its patients.In a statement, it said, "Fortis Healthcare does not charge any drug or consumables above the printed MRP and there is No Violation of Drug Price Control Order. It should also be noted that our end price to the patient is very much in line with what other private hospitals in India charge."

Seeking a five-year exemption from drug price control, Biocon CMD Kiran Mazumdar-Shaw Wednesday asked the government to refrain from 'ad hoc' measures so as to enable the pharma sector to build scale to be globally competitive.

A report by an inter-ministerial committee has made recommendations that trade margins trade margins of costly drugs be capped at 35% of maximum retail price.

Indian government has "privately reassured" industry lobby group US-India Business Council that the country would not invoke 'compulsory licensing' for commercial purposes that could allow local drugmakers to make cheaper products by overriding patents of big global players.

With just 41 out of top 100 pharma firms responding to its direction to register for online database, drug price regulator NPPA has warned to take action if the rest of the companies did not comply with its order immediately.

The government has allowed pharmaceutical companies to hike rates of 509 essential medicines used for treating various ailments like diabetes, hepatitis and cancer by 3.84 percent with effect from April 1.

Drug price regulator NPPA is still to recover Rs 3,680.43 crore from various pharmaceutical companies for overcharging, while almost 95 per cent of the amount is under litigation.

The government formed core committee, comprising drug price regulator NPPA and Department of Pharmaceutical, for revision of National List of Essential Medicines is yet to submit its report.

India's pharma majors Dr Reddy's and Sun Pharma are among 14 drug makers which are being probed by the US Congress over price escalation of generic drugs.