New Delhi: The National Pharmaceutical Pricing Authority (NPPA) has fixed the ceiling price of 31 drug formulations and retail prices of 69 formulations, Zee Media Channel reported on Thursday.
The new price ceiling will apply to drugs like Antitoxins, Cholesterol, Sugar, Pain, Fever, Infection, Stopping Excessive Bleeding, Calcium, VitD 3, Children’s Antibiotics, the channel reported. There will be a revised rate on the new packing and the dealer network will have to inform about the new prices.
Companies can collect GST on fixed pricing only if it has been paid for, it said.
Set up in 1997, the NPPA has been entrusted with the task of fixation/revision of prices of pharma products, enforcement of provisions of DPCO and monitoring of prices of controlled and decontrolled drugs.
This is a developing story, further details are awaited.
