Drug cos want govt to review price control on key brands
Drug majors including Ranbaxy, Pfizer, Glaxo and Eli Lilly have approached the government asking for a review of the drug price regulator' decision to impose price control on their key brands.
By Sushmi Dey & Gireesh Chandra Prasad, ET Bureau |
NEW DELHI: Drug majors including Ranbaxy, Pfizer, Glaxo and Eli Lilly have approached the government asking for a review of the drug price regulator' decision to impose price control on their key brands which include cough syrups, antibiotics, pain killers, ulcer treatments and pills for male impotence. The government has asked some of the companies to first comply with the regulator's decision and lower prices of over 10 key brands.
The ministry of chemicals and fertilisers would hear the views of the National Pharmaceutical Pricing Authority (NPPA) and the companies before it takes a call on the review petitions that companies filed after the drug regulator fixed prices of these drugs in a year for increasing prices beyond the allowed limits. The major MNC brands now under the ministry's examination include Pfizer's Bendryl Couph Syrup and Caladryl lotion for itching and Eli Lilly's Human Insulin.
Cadila Pharma's anti-ulcer medicine Ranitidine, Ranbaxy's pain killer Pentazocine and antibiotic Roscillin, anti-bacterial Cilanem and impotence drug Caverta, Pfizer's medicine for irritation and itching Caladryl lotion are also believed to be under the government's review.
The ministry of chemicals and fertilisers would hear the views of the National Pharmaceutical Pricing Authority (NPPA) and the companies before it takes a call on the review petitions that companies filed after the drug regulator fixed prices of these drugs in a year for increasing prices beyond the allowed limits. The major MNC brands now under the ministry's examination include Pfizer's Bendryl Couph Syrup and Caladryl lotion for itching and Eli Lilly's Human Insulin.
Cadila Pharma's anti-ulcer medicine Ranitidine, Ranbaxy's pain killer Pentazocine and antibiotic Roscillin, anti-bacterial Cilanem and impotence drug Caverta, Pfizer's medicine for irritation and itching Caladryl lotion are also believed to be under the government's review.
| | | Also Read |
| | �� | |
| | �� | |
| | �� | |
| | �� |
It is learnt that the pricing authority had brought these brands under price control for their price escalation beyond the permitted 20% in 12 months. Based on the ORG-IMS data, the price regulator observed that price of Pfizer's 100 ml bottle of Benadryl Syrup increased by more than 20% during the period from November 2005-2006. The price of a 100 ml pack of Caladryl Lotion also increased by more than 20% during the period from November 2005 to November 2006.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
