NPPA Fixes Retail Price Of 69 Drug Formulations, Ceiling Price Of 31

New Delhi: The National Pharmaceutical Pricing Authority (NPPA) has fixed the ceiling price of 31 drug formulations and retail prices of 69 formulations,

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.

The manufacturer may add Goods and Services Tax only if they have paid actually or it is payable to the Government on the retail price mentioned in the retail price column.

The NPPA Order stated, "In case the retail price of any of the aforesaid formulations is not complied with, as per instant price notification and notes specified hereinabove, then the concerned manufacturer/marketing company shall be liable to deposit the overcharged amount along with the interest thereon under the provisions of the DPCO, 2013 read with the Essential Commodities Act, 1955".

The NPPA mentioned retail price is applicable only to the individual manufacturer / marketer as mentioned above i.e. who have applied for the same by submitting Form-I for price fixation / revision as stipulated under DPCO, 2013 and subject to fulfilment of all the applicable statutory requirements as laid down by the Govt. under relevant statutes/ rules, including manufacturing license permission from the Competent Authority i.e. the Central/State Licensing Authority, as may be applicable, by the concerned manufacturer/marketing companies. 

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.