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Manufacturers are required to issue a price list or supplementary price list indicating changes, and submit information regarding price change to the pharma pricing regulator.
| Photo Credit: Getty Images/iStockphoto
The National Pharmaceutical Pricing Authority (NPPA) has directed manufacturers to reduce the maximum retail price (MRP) of three anti-cancer drugs – Trastuzumab, Osimertinib and Durvalumab – in line with the government’s commitment to ensure the availability of drugs at affordable prices.
“This is in pursuance of the announcement made in the Union Budget for the year 2024-25 exempting these three anti-cancer medicines from customs duty. The Department of Revenue, Ministry of Finance, issued a notification recently reducing the customs duty on these three drugs to nil,’’ said a release issued by the Central government on Tuesday (October 29, 2024).
Further, the Department of Revenue had issued a notification reducing the GST rates on the three drugs from 12% to 5% with effect from October 10, 2024.
“Accordingly, there should be a reduction in the MRP of these drugs in the market, and the benefits of reduced taxes and duties should be passed on to the consumers,’’ said the release.
Hence the NPPA issued the present directive. The manufacturers are required to issue a price list or supplementary price list to the dealers, State Drugs Controllers and the government indicating the changes, and submit information regarding price change to the NPPA through the relevant forms (Form-II/ Form-V).
Published – October 29, 2024 08:03 pm IST
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