Your next dose of insulin, oral rehydration solution (ORS), antibiotic, folic acid health supplements and 23 other formulations just got cheaper.
The National Pharmaceutical Pricing Authority (NPPA) has slashed prices of 27 scheduled formulations, used in common medicines by up to 48%.
Among others, the move will bring down the prices of 150 household brands, such as Moxikind, Electral, Folvite, Zifi, Brutaflam, Novamox and Insugen.
The list also includes formulations, used in the treatment critical ailments, including cardiac disorders, rheumatoid ar thritis, cancer and Parkinson’s disease.
The price of eye-drops that use Travoprost, specifically used by patients suffering from hypertension, will come down by over 48%.
Further, the price of pegylated liposomal doxorubicin injections, which are used to treat certain kind of cancers, including ovarian cancer, will come down by almost 12%.
In addition, prices of antibiotics, such as, amoxicillin capsules, will come down by 13%, while insulin will also cost around 3% less.
“We are systematically working with an aim to bring down the prices of drugs... The idea is to make treatment of critical diseases as well as regular diseases burden-free,” Bhupendra Singh, chairman of NPPA, had told HT in April.
According to the National Health Profile 2015, compiled by the Central Bureau of Health Intelligence, in rural India, almost 80% of the out of-pocket expenditure is on medicine, whereas in urban areas it is around 75%.
The revised prices were notified on May 21. Moreover, in a recent order, the regulator mandated chemists and druggists to pass on any price revision to consumers.
The NPPA has so far capped prices of 280 new drugs as part of the revised list. This is the third price revision in the last one month. On May 9, the regulator fixed prices of 54 drugs.
The 27 formulations are part of the revised National List of Essential Medicines, 2015. The ministry of health and family welfare, in December, increased the number of medicines under price control from 684 to 875.