Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

New Patented Drugs Exempted from Price Control Order for 5 Years

The notification said for 'fixing or revising the ceiling price for formulations, the government may, if it is necessary so to do, consider market based data available for any month, as deemed fit.'

PTI

Updated:January 4, 2019, 8:50 PM IST
facebookTwitterskypewhatsapp
New Patented Drugs Exempted from Price Control Order for 5 Years
Representative image. (Photo: AFP)
Loading...

New Delhi: The government has exempted new drugs patented under the Indian Patent Act from the price control order for five years from the date of their marketing, according to a notification.

The Drugs (Prices Control) Amendment Order, 2019, by the Ministry of Chemicals and Fertilisers exempts "a manufacturer producing a new drug patented under the Indian Patent Act, 1970 (39 of 1970), for a period of five years from the date of commencement of its commcercial marketing by the manufacturer in the country," the notification said.

The provisions of DPCO 2013 shall not apply to "drugs for treating orphan diseases as decided by the Ministry of Health and Family Welfare", it said.

The DPCO fixes the prices of scheduled formulations and monitors maximum retail prices of all drugs, including the non-scheduled formulations.

The notification also mentioned that "the source of market-based data shall be the data available with the pharmaceutical market data specialising company as decided by the government, and if the government deems it necessary, it may validate such data by appropriate survey or evaluation."

The notification said for "fixing or revising the ceiling price for formulations, the government may, if it is necessary so to do, consider market based data available for any month, as deemed fit."

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

| Edited by: Ahona Sengupta
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
HDFC 2,011.25 -1.73
Yes Bank 68.05 1.49
Axis Bank 654.25 -2.48
Indiabulls Hsg 432.80 -0.56
Graphite India 353.30 -4.84
Company Price Change %Gain
HEG 1,300.00 -7.35
Graphite India 352.45 -5.24
Indiabulls Hsg 433.00 -0.51
Yes Bank 68.05 1.42
ICICI Lombard 1,129.70 0.06
Top Gainers
Company Price Change %Gain
Yes Bank 68.00 1.42
Vedanta 150.45 1.21
Titan Company 1,165.35 1.46
Dr Reddys Labs 2,753.00 1.02
HUL 1,832.50 0.89
Company Price Change %Gain
Vedanta 150.70 1.45
Yes Bank 68.05 1.42
Asian Paints 1,531.65 0.73
HUL 1,832.85 0.95
Tata Steel 362.55 0.39
Top Losers
Company Price Change %Gain
Axis Bank 654.85 -2.39
UltraTechCement 3,904.95 -2.20
BPCL 380.00 -6.99
Tech Mahindra 706.15 -1.85
HCL Tech 1,051.15 -1.75
Company Price Change %Gain
Axis Bank 660.95 -1.53
HCL Tech 1,051.00 -1.76
HDFC 2,027.85 -0.90
Hero Motocorp 2,696.90 -1.56
Bharti Airtel 342.75 0.00

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results