Capping drug prices saved consumers about Rs 5,000cr: Govt | india-news | Hindustan Times
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Capping drug prices saved consumers about Rs 5,000cr: Govt

Consumers have saved nearly Rs 5,000 crore on account of the government fixing the prices of medicines under the Drugs Price Control Order 2013, government said on Friday.

india Updated: Jul 29, 2016 17:11 IST
PTI
Consumers have saved nearly Rs 5,000 crore on account of the government fixing the prices of medicines, Union minister Ananth Kumar told the Rajya Sabha.
Consumers have saved nearly Rs 5,000 crore on account of the government fixing the prices of medicines, Union minister Ananth Kumar told the Rajya Sabha.(HT File Photo)

Consumers have saved nearly Rs 5,000 crore on account of the government fixing the prices of medicines under the Drugs Price Control Order 2013, government said on Friday.

It fixed ceiling prices of 530 scheduled formulations in accordance with the DPCO 2013 including medicines for diabetes, cardiovascular diseases, HIV/AIDS, tuberculosis and cancer till February 29, 2016, minister for chemicals and fertilisers Ananth Kumar said in a written reply to the Rajya Sabha.

Thereafter, till June 2016, government further fixed the prices of 404 formulations, including 39 medicines for heart diseases, 18 HIV/AIDS drugs and 39 anti-cancer formulations, he added.

“The total saving to consumers as a result of price control under DPCO 2013 is nearly Rs 4,988 crore,” Kumar said.

Prices of over 530 formulations were fixed under NLEM 2011 and 404 medicines under the revised list (NLEM 2015) under DPCO 2013, which was notified on March 10, 2016.

“These scheduled formulations include a wide range of antibiotics also. Besides, the government has also opened 375 Jan Aushadhi stores countrywide to provide quality medicines at affordable prices to the masses,” the minister said.

In a separate reply, minister of state in the ministry of chemicals and fertilisers Mansukh Lal Mandaviya said the government has also capped the maximum retail price of 106 non-scheduled formulations, including 84 cardiovascular formulations and 22 antibiotics, under Para 19 of DPCO 2013.

“The government is also engaged in the exercise of fixing the ceiling prices of the remaining scheduled formulations in revised Schedule-I for which market data is available,” he added.