'Prices of 298 scheduled drugs reduced in 2006-07'

NEW DELHI: The National Pharmaceutical Pricing Authority (NPPA) has upwardly revised the rates of 118 drugs by 12.46 per cent during the current fiscal, while rates of 298 medicines have gone down by an average 31.46 per cent, Rajya Sabha was informed.

In a written reply to the house, MoS for Chemicals B K Handique said monitoring of prices is an ongoing exercise undertaken by the nppa.

During such monitoring 26 companies have reduced the price in respect of 46 non-scheduled fomulation packs by 0.5 per cent to 34.62 per cent, handique said.

He informed the house that in addition to these 298 medicines, 11 companies have voluntarily agreed to reduce the prices of 886 medicines.

NPPA has fixed or revised the prices of 4,854 scheduled formulation packs since its inception. Of these, prices of 2,298 scheduled formulations have been revised downward and prices of 844 have been revised upward, he added.