LIVE TV DownloadNews18 App
News18 English
»
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
facebookTwittergoogleskypewhatsapp
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."
| Edited by: Ahona Sengupta
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
HDFC Bank 2,276.15 -0.99
Reliance 1,341.75 -2.45
Maruti Suzuki 6,552.70 -1.81
Yes Bank 252.60 0.18
Axis Bank 757.05 0.17
Company Price Change %Gain
UPL 934.95 0.02
Axis Bank 757.35 0.24
Cipla 526.85 -1.17
Motherson Sumi 146.05 -7.06
SpiceJet 98.10 7.04
Top Gainers
Company Price Change %Gain
NTPC 134.65 4.18
Larsen 1,394.70 1.74
JSW Steel 285.75 1.22
Asian Paints 1,471.25 1.04
Hindalco 209.10 0.94
Company Price Change %Gain
NTPC 134.05 3.67
Larsen 1,394.00 1.54
Asian Paints 1,470.70 1.08
Tata Steel 518.15 0.90
Power Grid Corp 198.50 0.53
Top Losers
Company Price Change %Gain
Bharti Infratel 316.10 -2.75
Tata Motors 175.40 -2.66
BPCL 378.95 -2.62
HPCL 268.35 -2.45
Reliance 1,341.75 -2.45
Company Price Change %Gain
Tata Motors 175.40 -2.47
Reliance 1,342.10 -2.44
Maruti Suzuki 6,558.00 -1.84
SBI 298.10 -1.76
Bajaj Finance 2,836.85 -1.23

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results