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Pharma industry urges govt for stable drug pricing policy
- By Newsdesk
- New Delhi
- Aug 07, 2024
The Organisation of Pharmaceutical Producers of India (OPPI), representing major multinational pharmaceutical companies, has urged the government to implement a "predictable" pricing policy for medications. They have requested that the government avoid using Para 19 of the Drug Pricing Control Order (DPCO), which allows the regulator to significantly reduce drug prices in the public interest for an indefinite period.
Previously, the National Pharmaceutical Pricing Authority (NPPA), India's drug pricing regulator, invoked Para 19 of the DPCO to drastically cut the prices of cardiac stents and knee implants, making them more affordable.
In a recent presentation to the Department of Pharmaceuticals (DoP), OPPI emphasized the need for a stable pricing policy, highlighting past instances where Para 19 was used to alter pricing in 2014 and 2019.
The DoP has been engaging with stakeholders to discuss potential reforms in the pricing framework for drugs and medical devices. The NPPA's earlier actions under Para 19 led to an 87% reduction in the prices of cardiac stents and orthopedic knee implants, a measure that has been extended since its initial implementation.