The Ministry of Chemicals and Fertilizers (MoCF) on December 08, 2023, issued a Press Release regarding the Norms for fixing Prices of Medicines
The following has been stated namely: -
• It states that every manufacturer of a scheduled or non-scheduled formulation intended for sale shall display in indelible print mark, on the label of the container of the formulation and the minimum pack thereof offered for retail sale, the maximum retail price of that formulation with the words "Maximum Retail Price" preceding it and the words 'inclusive of all taxes' succeeding it.
• It states that the manufacturer shall issue a price list to dealers, who shall display the same on a conspicuous part of the premise where he carries on business.
• It also provides that no person shall sell any formulation to any consumer at a price exceeding the price specified in the current price list or the price indicated on the label of the container or pack thereof, whichever is less
• It states that the NPPA fixes the ceiling price of scheduled formulations as per the extant provisions of DPCO, 2013.
• The ceiling price of a scheduled formulation is determined by first working out the simple average of price to retailer (PTR) with respect to all branded-generic and generic versions of that particular formulation having a market share of one percent and above.
• The maximum retail price (MRP) for that particular drug formulation must not exceed the notified ceiling price plus applicable taxes.
• It further states that the details of prices fixed by NPPA is available on the website of NPPA www.nppaindia.nic.in.
[Press Release ID 1983964]
