Moneycontrol BureauThe National Pharmaceutical Pricing Authority in its present form could be disbanded, reports The Economic Times. The government will likely assume power to set prices of essential medicines. This move is part of government efforts to redress concerns raised over its prohibitive control and its sometimes innovation-stifling measures.
Under the reshaped policy, pricing control on essential medicines will likely be taken away from NPPA. The policy seeks to bring in more flexibility and regulation will be eased. Currently, a drug is subject to price control the moment it is included into the list of essential medicines.
On the agenda is also a proposal to grant licences for manufacturing and sale of drugs for perpetuity against the current practice of periodic renewals.
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