INDIA
The Union government decision to decontrol prices of 108 drugs -- used to treat tuberculosis, AIDS, diabetes and heart ailments -- has jacked up their prices. In some cases, prices have seen an unbelievable rise.
The price of Glivec, an anti-cancer tablet, for example, has risen from Rs 8,500 to Rs 1.08 lakh.
Plavix, used to treat blood pressure and heart ailments, will cost Rs 1,615, against the earlier Rs 147. An anti-rabi injection, Kamrab, priced at Rs 2,670, will now cost Rs 7,000.
In a circular issued before Prime Minister Narendra Modi's visit to the US, the government asked the National Pharmaceutical Pricing Authority (NPPA), an autonomous body, to withdraw its May 2014 guidelines on drug price control.
NPPA had capped the prices of these 108 drugs, in addition to the already listed 800 essential drugs, to improve their affordability, in the wake of official figures that there are 4.1 crore diabetes, 4.7 crore coronary heart disease, 22 lakh TB, 11 lakh cancer and 25 lakh HIV/AIDS patients in the country.
Are drug companies behind the move?
Drug companies, no doubt, are happy. Their argument is that the 108 drugs mostly relate to lifestyle diseases and are not 'essential'. One drug company executive said pharma companies themselves have volunteered to keep prices of 800 essential drugs as low as possible. Also, he asks, "In a free market, how can a regulator control prices."
So now, will the prices of all 108 drugs go up?
No, say officials. "The government has only taken the powers of NPPA and kept them with it. The government will negotiate with pharma companies to keep prices low. The aim is to cut through red tapism," said a senior official in the ministry of chemicals and fertilisers.
Why did the govt do it, in the first place?
The government decided to empower itself to deal with the pricing of some limited and non-essential drugs. Instead of seeing this as a favour to pharmaceutical companies, it should be seen as an encouragement for them to invest and spend on R&Ds.
But surely some pharma firms might have benefitted?
Definitely. Subsequent to the new move, 0.7 per cent of the combined sales of Sun Pharma and Ranbaxy in India will be out of price control. The corresponding figures for Torrent and Lupin will be 1.5 per cent and 0.7 per cent, respectively. Soon after the government decision, share prices of pharma companies shot up. Sun Pharma and Ranbaxy gained nearly 2 per cent and GSK Pharma and Davis Lab gained 1 per cent each. Glenmark was also up around 1 per cent.
What's the anti-decontrol group saying?
Former Union minister for chemicals and fertilisers Srikant Jena alleges that the timing of decontrol smacks of a plot to help multinational pharmaceutical companies, mostly headquartered in the US, to earn bumper profits. He said the decision seems to have been taken to let Prime Minister Narendra Modi earn some brownie points while interacting with top US officials and company executives.
Weren't these drugs under price control regime earlier?
The Ministry of chemicals and fertilisers had, on May 30, 2013, delegated powers to the NPPA to regulate the prices of life-saving drugs. This resulted in a significant reduction in prices of a broad spectrum of drugs. The Modi government extended this regulation to even lifesaving drugs for cancer, HIV, tuberculosis, malaria, diabetes, cardiovascular diseases and asthma. The government later withdrew these guidelines, ahead of Modi's visit to the US.
DNA TV Show: Why Gautam Adani charged with bribery and fraud in US
IND vs AUS: Records Virat Kohli can break during Border-Gavaskar Trophy
Diljit Dosanjh fans get angry over Ananya Panday's birthday post for her grandmother, here's why
Reddit suffers outage with ‘upstream connect error’ message, says 'currently investigating...'
Border-Gavaskar Trophy: How has Jasprit Bumrah fared in Tests in Australia?
Delhi records coldest night of the season, temp drops to...
Crossing the Line: Ukraine's Use of Storm Shadow Missiles and the Escalation of Conflict
When Malaika Arora talked about the controversial ‘instant pleasure’ ad, it was for…
This is the world’s most expensive shopping street, not Fifth Avenue, New Bond Street, it is...
Big setback for Gautam Adani, Kenya cancels Rs 6216 crore deal with Adani Group due to...
Viral video: Man’s jugaad to stay warm in winter will leave you SHOCKED, watch here
Hinduja Group firm gets key approval for acquisition of Anil Ambani's debt-ridden Reliance Capital
Viral video: Middle-Class man lives dream of having tea at Taj Hotel, netizens applauds
Shloka Mehta looks stunning in white floral kurta as she clicked with Akash Ambani, it costs Rs....
Who is Sagar Adani, Gautam Adani's nephew, accused of bribery, fraud charges in US?
PayPal down: Several users face issue while logging into accounts, say 'no one could...'
IND vs AUS: Jasprit Bumrah, Pat Cummins eye historic captaincy milestone in Perth Test
BGT 2024, Ind vs Aus: Can Shubhman Gill be the new Cheteshwar Pujara? Is he really ready?
The Ultimate Guide to Luxury Gifting: Discover Heirloom Pashmina by Pashmina.com
Effortless Relocations: The Perks Of Professional Removalists In Melbourne
Watch: Pakistan fan with 'Imran Khan' poster asked to leave Hobart stadium in Australia
International Criminal Court issues arrest warrant against Israeli PM Benjamin Netanyahu for...
What is demisexuality? Everything you need to know about this lesser-known sexual orientation
WATCH: World’s shortest woman meets world’s tallest woman, video goes viral
IND vs AUS 1st Test: Predicted playing XIs, Perth weather forecast and pitch report
IND vs AUS: When will Rohit Sharma join India squad? Check latest update
'Scam 2024': Diljit Dosanjh lookalike pranks people on Pune streets, video goes viral
Delhi Air Pollution: Centre announces staggered work timings for govt employees; check details
Mukesh Ambani's Reliance Jio loses nearly 80 lakh subscribers in just 30 days, BSNL adds...
IND vs AUS, 1st Test Dream11 prediction: Fantasy cricket tips for India vs Australia match
This country has most expensive passport in world, not US, UK, UAE, it costs Rs...
Amitabh Bachchan opens up on Aishwarya Rai-Abhishek Bachchan divorce rumours
Amid rising air pollution, Delhi-NCR's crematorium records cleanest air; check AQI here
Revolutionising Medical Imaging: Venudhar Rao Hajari’s impact on healthcare technology
Abhishek Gupta and Onevision Media: Scaling brands on social media
Video shows Korean girl eating jalebi for first time, her reaction to Indian sweet goes viral
Cristiano Ronaldo confirms THIS YouTube star as his next guest, says, 'Will break Internet'
Delhi Assembly Elections: AAP releases first list of 11 candidates for 2025 polls
Adani Group's FIRST REACTION after US indicts Gautam Adani in alleged bribery case
Instagram introduces new feature, know how to reset app's algorithm, change your feed
No mention of Aaradhya Bachchan in Amitabh Bachchan's post on birthdays, it happened recently
Oppo Find X8 and X8 Pro launched in India, check specifications, price, other details
Charges against Gautam Adani: BJP's scathing attack on Congress, questions timing of development
Jasprit Bumrah's BIG statement on taking up Perth test captaincy, says, 'tactically better...'
Blackout on breaks: Company imposes no-sick-leave policy until 2025
Drug-laden terrorists on India's western, northern frontiers
Mohammad Shami trolls Sanjay Manjrekar over IPL auction bid prediction, says, 'Baba ki...'
IND vs AUS Test: When and where to watch 1st match of Border-Gavaskar trophy, know details here
CAQM amends Grap Stages III, IV, enforces stricter measures in Delhi-NCR amid air pollution woes
Malayalam actor Meghanathan passes away at 60 after suffering from...
Adani Green Energy's FIRST reaction after US indicts Gautam Adani in alleged bribery case
'Keep me out of...': Pakistani Instagram star Mathira on MMS leak controversy
Delhi Air Pollution: AQI marginally improves from 'severe' to 'very poor' category
Meet actress who worked with Alia Bhatt, was asked to 'compromise', connected to Aishwarya Rai by..
Aishwarya Rai’s remark on Amitabh Bachchan’s ‘habits’ goes viral amid divorce rumours with Abhishek
Rekha's BOLD statement about Amitabh Bachchan goes viral, 'why hurt...'
Meet man, IITian who built Rs 5493 crore firm, has this Mukesh Ambani connection, he is from...
Shillong Teer Results TODAY November 21, 2024 Live Updates: Check winning numbers here
‘I didn’t have time to…’: When AR Rahman revealed having ‘agreement’ before marriage to Saira Banu
Amitabh Bachchan praises Abhishek Bachchan's new film, netizens ask 'kash ye Aishwarya...'
Viral video: Woman's sizzling belly dance to 'Namak' impresses internet, watch
Hardik Pandya banned, Mumbai Indians captain to miss first match of IPL 2025 due to...
Meet man who studied at IIM, IIT, then built Rs 1160000000 company, got inspired by…
Meet woman, who quit as dentist for UPSC exam, became IAS officer with AIR...