Govt slashes insulin prices by 20-40% | chandigarh | Hindustan Times
Today in New Delhi, India
Dec 04, 2016-Sunday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Govt slashes insulin prices by 20-40%

chandigarh Updated: Jan 02, 2013 00:55 IST
Highlight Story

Daily insulin shots for diabetics are pinching less as pricing regulator National Pharmaceutical Pricing Authority (NPPA) slashed the price of the blood sugar-controlling products by 25% to 40% in November.

Eli Lilly, Cadila, Lupin and Biocon are among the major players in India’s Rs1,500-crore insulin market, which caters for 12 million insulin-reliant patients. A 10ml vial, which lasts for 10 to 12 days for an average patient, now costs around Rs284 against Rs369 two months ago. Insulin is among 74 drugs whose prices the government controls.

The lowest prices of the largest selling imported and domestic insulin brands are now considered to be ceilings in the respective categories. Besides, NPPA clamped down on arbitrary cost adjustments by firms.

“These are two different steps aimed at bringing down the retail prices of insulin,” CP Singh, chairman, NPPA, told HT. DG Shah, director general of industry body Indian Pharmaceutical Alliances, however, said, “The move may benefit the consumer in the short term, but it may discourage firms to expand capacities and enter the market. This may hurt the drug’s availability in the long term.”