India has extended price caps to an additional 39 drugs ranging from commonly used diabetes treatments to antibiotics, in the government’s latest effort to improve the affordability of medicines.
Wide-ranging price cuts over the past year, and made a competition for several drug makers in India which have been opposed by many others in the industry, who say by giving their opinion that prices of drugs are already lowest in India among the other countries of the world.
The new drugs join a price control list that covers more than 500 drugs.
Update news if this context is the earlier turn will contain the medicines manufactured by the drug makers of foreign countries such as Abbott Laboratories and GlaxoSmithKline Plc , as well as domestic firms such as Lupin Ltd , Cadila Healthcare Ltd and Ipca Ltd .
This turn got its actual body work after the statement given by of a parliamentary committee in April that there is need of scope of price control to be expended even further. In India, the majority of people live on less than $2 a day and health insurance is scarce.
But a study conducted by healthcare research firm IMS and sponsored by the main business association of multinational drugmakers operating in India argues that price controls are not an effective strategy to improve healthcare access for Indian patients.
Price caps benefit high-income patients rather than the low-income patients and put pressure on profit margins for small and mid-sized companies, said the study, which was released on Tuesday.
Basically these all 39 drugs which used for the treatment diabetes, digestive system came in the list of controlled list of price by the Indian government so that the stock of these medicine can be fixed on appropriate rates.
NPPA gave this all information in its statement. According to this statement they have fixed and considered those prices of the formulation packs of medicines. NPPA has made a control list for 680 different medicines up to now.
This is also an update that the medicines formulation has been fixed by government, there are few medicines are in the list such as ciprofloxacin hydrochloride (this is an antibiotic which is used for treatment of fever and inner infection of body), cephotazime, paracetamole (this is very common drug used for fever and it is a commonly used pain killer too), domparedon (this is the medicine used by gynecologists for the pregnant ladies who have the problem of vomiting)
This step took by the Indian government will affect the companies of drug making such as Abbott Laboratories and GlaxoSmithKline Plc , as well as domestic firms such as Lupin Ltd , Cadila Healthcare Ltd and Ipca Ltd .
This step was needed to take in India because India is the country where there is lack of arrangements of medicines in many places and due to commercialization medicines get higher in prices which are so far from common man. By taking this step hopefully common man of India will be able to get a treatment by these medicines.