Steps taken by the Government to bring transparency in fixing prices of essential medicines | Business Standard

In order to have transparency, a draft version of the Price Calculation Sheets for the proposed revised price notifications, including wherever applicable, the Price to Retailer (PTR) and Moving Annual Turnover (MAT) values adopted for calculations, is uploaded on the website of NPPA for 10 clear working days to invite comments from the affected pharmaceutical firms.

Only after taking into account the comments or any additional data thus received within the given time period, the NPPA finalizes the ceiling and the retail Prices. Thus, the entire procedure of price fixation is available in the public domain which ensures transparency and accountability of the whole process.

Since inception of NPPA till February 2018, 1763 demand notices (including suo-moto deposits) have been issued to pharmaceutical companies for their having overcharged patients on the sale of formulations at prices above the ceiling price notified by NPPA. Amount to the tune of Rs. 827.25 crore has been recovered from the companies to the Government in overcharging cases. The detailed list of overcharging cases where demand notices have been issued is available on NPPA website www.nppaindia.nic.in

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Steps taken by the Government to bring transparency in fixing prices of essential medicines | Business Standard News.

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