Parliament Parliamentary Committee
Bare metal stents price up 44% since 2017, committee finds
The Standing Committee on Chemical and Fertilisers examined the rising prices of medicines and medical devices in the pharmaceutical sector to address how these costs adversely impact ordinary citizens.
Who it concerns: The report concerns the Ministry of Chemicals and Fertilisers (specifically the National Pharmaceutical Pricing Authority and the Department of Pharmaceuticals) and affects all citizens purchasing medicines, cardiac stents, and medical devices.
What the committee found
- The Committee observed that frequently prescribed medicines, cardiac stents, and anti-cancer drugs are being sold at high prices.
- The Committee noted that the National Pharmaceutical Pricing Authority (NPPA) does not fix prices for non-scheduled drugs, allowing manufacturers to set initial prices arbitrarily, and recommended the NPPA apply appropriate price controls to these formulations.
- The Committee identified that fixed dose combination drugs are currently outside NPPA price regulations.
- The Committee recommended amending the Drugs (Prices Control) Order (DPCO), 2013 to include legal provisions for trade margin rationalisation, noting that current capping is only permitted for limited periods.
- The Committee recommended that studies be conducted on the difference between the price to stockist (PTS) and the maximum retail price, noting that PTS data is currently undisclosed to the public.
- The Committee recommended establishing a regulatory framework for online drug sales and strict monitoring of these platforms to ensure price fairness and product authenticity.
- The Committee recommended measures to reduce the prices of coronary stents and ensure patients are not overcharged.
Also in the document
- Between 2017 and 2024, the price of bare metal stents increased by 44% and drug eluting stents increased by 29%.
- The Committee noted that while drug price rises have remained proportional to inflation, high trade margins persist for some medicines.
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The original document
Parliamentary Standing Committee reports (via PRS Legislative Research)
Committee report · Ref. price-rise-of-medicines-in-the-pharmaceutical-sector
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