On Thursday, the National Pharmacists Pricing Authority (NPPA) tweeted about their decision to fix the soaring prices or new drug prices of 51 formulations that are a part of the Schedule I drugs. This comes after the NPPA recently capped the prices for knee implants and replacement surgery in order to make the treatment available and affordable to everyone.
“NPPA fixes the ceiling prices/new drug prices of 51 formulations,” read the tweet. Furthermore, the experts believe that it is a welcome move for the customers. Some of the medicines in the list whose prices have been capped are Oxaliplatin, Japenese encephalitis vaccine, measles rubella vaccine and surfactant. Most of these drugs are prescribed for cancer, measles, encephalitis and for respiratory syndromes.
“Price capping is always beneficial for the public. The multinational companies, as well as the pharmaceutical companies, fool the common man by increasing their profit margin, which, in this case, will be cut down. So, it’s a good move for the common man,” said RP Yajurvedi Rao, president, Society for Awareness of Civil Rights in Mumbai.
Jagannath Shinde, president of All India Organisation of Chemists & Druggists (AIOCD) said, “After the prices are fixed, it takes about a month to reflect them in the market. However, it is to be seen how this works. Offhand, it doesn’t seem very positive for the manufacturers and retailers.”