Page 2 - Medicine Prices

Prices of essential medicines will not be increased in FY25: Mandaviya

Union Minister Mansukh Mandaviya said on Thursday said there will be no increase in prices of essential medicines this fiscal year in view of negligible growth in wholesale price-based inflation. In an interaction with PTI editors at the news agency's headquarters here, Mandaviya -- the Union Chemicals and Fertilisers Minister -- assured that this is "Modiji's guarantee". When asked about reports and speculations of hike in rates of essential drugs, he said, "It is absolutely incorrect. There will be no increase in the price of medicines". The minister said the National Pharmaceutical Pricing Authority (NPPA), which is under the Department of Pharmaceuticals, annually revises the ceiling prices of scheduled medicines on the basis of Wholesale Price Index (WPI). "NPPA monitors and fixes the prices of essential medicines based on WPI," Mandaviya said. When inflation rises, it leads to a hike in prices and when it goes down, the prices come down, the minister said. "This year the ..

Essential drug prices stay flat this year, offering relief to consumers

This would come after the price hikes allowed (in line with the change in WPI) in the previous two years were 12.12 per cent (2023) and 10.7 per cent (2022) respectively

Central homoeopathy body notifies new rules for assessment of BHMS colleges

According to the NCH notification, each existing institution will now have to submit information and relevant annexures needed for the assessment and rating on an annual basis

Pharma regulation: A complex problem

Medicines are critical for human wellbeing but its regulation, which is inherently complex, is even more challenging in India

Pharmeasy FY23 losses widen 31%, revenue increases 16% to Rs 6,644 cr

Online pharmacy dropped plan for an IPO in 2022, says it is cutting down expenses

Govt orders CBI probe into substandard medicine supply in Delhi hospitals

Test reports for eleven medicinal samples are still pending with the government labs

General medicine most consulted speciality under PMJAY: NHA data

NHA has described PMJAY's primary objectives as ensuring comprehensive coverage for catastrophic illnesses, reducing out-of-pocket expenditure, and improving access to hospitalisation care

2023 Nobel Prize in medicine goes to Katalin Karikó, Drew Weissman

The 2023 Nobel Prize in Physiology or Medicine has been awarded to Drew Weissman and Katalin Karikó for their contributions to the development of the highly effective mRNA vaccines against Covid-19

Indian pharma Industry to log 8-10% revenue growth in FY24: Report

Drugs in the National List of Essential Medicines contribute 17% of revenue: ICRA

Merck sues federal govt over plan to negotiate Medicare drug prices

Merck is suing the federal government over a plan to negotiate Medicare drug prices, calling the programme a sham equivalent to extortion. The drugmaker is seeking to halt the programme, which was laid out in the Inflation Reduction Act and is expected to save taxpayers billions of dollars in the coming years. Merck said in a complaint filed Tuesday that the programme does not involve genuine negotiation. Instead, it said the U.S. Department of Health and Human Services selects drugs to be included and then dictates the price, threatening drugmakers with a ruinous daily excise tax if they decline to agree. It is tantamount to extortion, the drugmaker said in the complaint, which was filed in the U.S. District Court for the District of Columbia. The drugmaker added that it expects its diabetes treatment Januvia to be part of the IRA's scheme starting later this year. Representatives of the federal agency did not immediately respond to requests for comment from The Associated Press

NPPA allows drug firms to raise prices of essential medicines from April 1

Effectively the prices of 651 medicines will come down by 6.73%; WPI-linked price rise allowed this fiscal is 12.2%; about 870 formulations fall under the essential category

Zuventus first in world to launch aviptadil for ARDS commercially

Discovered in 1970, the drug was tested on severe Covid-19 patients on DCGI's direction

Pricing regulator closely watching prices of diabetes drug going off patent

Regulator looking to cap prices of Sitagliptin, Linagliptin and combinations

Afghans face unprecedented rise in medicines cost as economy struggles

Unprecedented rise in the cost of pharmaceutical drugs has troubled Afghans at a time when the country's economy is on the brink of collapse

NPPA fixes price caps for 12 anti-diabetic medicines

These include glimepiride tablet of strength 1 mg, with ceiling price at Rs 3.6 per tablet, while that for 2 mg is Rs 5.72 per tablet

NPPA has fixed ceiling prices of 355 medicines, 882 formulations: Mandaviya

The National Pharmaceutical Pricing Authority has fixed ceiling prices of 355 medicines and 882 formulations under the National List of Essential Medicines, 2015, Parliament was informed

Delhi Police files 113 FIRs of fraud, black marketing of Covid-19 medicines

Delhi Police has registered 113 FIRs, of which 61 cases pertain to cheating and fraud in name of providing Covid-19 medicines or oxygen, 52 cases related to black-marketing, hoarding or overcharging

Varanasi police begins crackdown on medical stores for overcharging

The Varanasi police have started a crackdown on medical stores that are overcharging buyers for medicines and critical instruments like oximeters amid a shortage triggered by a huge demand

Zydus Healthcare launches anti-diabetic Dapagliflozin drug at cheap prices

The company has launched its Dapagliflozin tablets in the strengths of 10 mg and 5 mg priced at ₹17 and ₹14

Price drives Indian pharmaceutical market growth to five-year high in FY20

Ipca's Zerodol brand and its multiple variants used in treating pain and inflammation are an example of how this trend is playing out