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Centre Plans New Pharma Policy To Bring Down Medicines, Other Products Prices

In line with PM Narendra Modi's directive of making drugs affordable for the poor, the Centre is planning to introduce a new pharmaceutical pricing policy, which is likely to cut medicines and various other pharmaceutical products prices. Sources said the policy is expected to be stricter and is likely to bring more products under its purview.

Niti Aayog, DoP have started discussions
The Niti Aayog, the government's think tank has already held discussions with department of pharmaceuticals (DoP) and the new proposed policy is likely to replace the core of the Drugs Price Control Order, 2013 i.e. existing National Pharmaceutical Pricing Policy, 2012. Following the introduction of the new policy, price control of all essential medicines as well as many other pharmaceutical products including stents and medical devices would fall in its ambit.

First inter-ministerial meeting held recently
On Monday, Aayog held the first inter-ministerial meeting and representatives from regulatory bodies like the Drugs Controller General of India and chairman of the National Pharmaceutical Pricing Authority besides others attended. Department of Pharmaceuticals has also held various rounds of consultation with pharmaceutical companies, civil society organisations and other stakeholders. The government is also planning to introduce changes to the Drug Price Control Order, 2013 besides revamping the existing policy. "The DoP suggested balancing the new policy by taking care of the interest of the industry as well as consumers", informed a senior official, on the condition of anonymity, who participated in the meeting . Officials and regulators, also highlighted existing price anomalies.