Drug retailers need more time to sell old stock

THIRUVANANTHAPURAM: The new Drug (Price Control) Order (DPCO) that slashed the prices of essential drugs with effect from today would incur a massive loss to the tune of Rs 600 crore for drug retailers in Kerala as they have already taken the drugs on a higher price, medical-shop owners here complained.

The order should not be implemented before selling off the current stock of medicines, which had been purchesed on older rates, V Ajith Kumar, a member of All Kerala Chemists & Drugs Association (AKCDA) told a press meet here today.

"The government has reduced the maximum selling price of 153 medicines from today. The implementation of the order from today will cause a huge loss of around Rs 600 crore for drug retailers in the state," he said.

He, however, said the retail drug shop owners were not against the price reduction of essential medicines but requested the authorities to show some humanitarian consideration to small-scale medical shop owners as well.

"The price control of drugs is really a good one. But, its immediate implementation will cause huge capital loss to us. So, we need at least three months time to clear the present stock," he said.

He also said drug retailers would go for strike closing the shops if the authorities would not hear their plea.

The Department of Pharmaceuticals had notified the Drug (Price Control) Order (DPCO) 2013 in May reducing the price of 348 essential medicines.