New Delhi, September 28, 2016: The drug price regulator has slashed prices of all paracetamol medications, including injections, by up to 35% in wake of the flu outbreak across the country.
While all brands of paracetamol tablets were already under price control, injections are more commonly used in cases of high fever from dengue and chikungunya. The price reduction was notified to companies by NPPA in the middle of September and will come in effect immediately.
Pharmaceutical sales estimates for the month of August shows, paracetamol market grew by 47.2%. Besides, the fever reducing drug is also sold in many other combination forms. The move is aimed at making the drug accessible and affordable to people across the country and to all sections of society, an official in the National Pharmaceutical Pricing Authority (NPPA) said. NPPA is responsible for regulating prices of medicines in the country as well as ensuring their availability.
According to the regulator, the new pricing order has a provision allowing it to bring under its purview all dosage forms of medicines which are part of the National List of Essential Medicines. The NPPA has used this provision to cap prices of paracetamol injections as paracetamol tablets like Calpol and Crocin are already under price control.
According to the official, the consumption of paracetamol, mainly that of injections, increased in the past few months following the flu outbreak in different parts of the country. Government data till September 18 shows 78 people died of dengue across the country, whereas almost 40,000 people are suffering from the vector-borne disease. Chikungunya, which spread widely in Delhi, Maharashtra and Karnataka, recorded around 17,000 cases till September 18.
Amidst concerns that companies or retailers may not replace the existing or old stocks of medicines with the new ones at a reduced MRP (maximum retail price), the NPPA has also asked state drug regulators as well as its own field vigilance officers to keep a stringent check and monitor prices in the market.
The total pharmaceutical retail market in India is pegged at over Rs 1 lakh crore.
TNN
