NPPA asks med. firms to respond within 15 days of price revision | SupportBiz

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NPPA asks med. firms to respond within 15 days of price revision

 
The National Pharmaceutical Pricing Authority (NPPA), ensuring strict implementation of the new drug pricing policy, asked the drug companies to respond back within 15 days after the price is revised since any communication beyond that will not be entertained, reports PTI.

The new policy fixed the cost of medicines by taking simple average of all brands which have more than 1 per cent market share.

The pharma manufacturers have been contacting NPPA to clarify doubts on applicability of price notifications on their products and errors generated by omissions and miscalculations. “However, as this exercise cannot be open ended, the authority has decided to fix a time limit. It has been decided that representations received within 15 days from the date of notification may be accepted and these will be dealt within 15 days of the receipt of the representations,” NPPA said.

The new drug pricing policy has approved fixing the ceiling prices of 348 drugs included in the national list of essential medicines, based on data furnished by IMS Health. Further, NPPA is seeking additional information from the drug manufacturers wherever IMS has missed out.

Before the new pharmaceutical pricing policy was implemented, the Drug Prices Control Order 1995 had the prices of only 74 bulk drugs under its regulation.