Inflated margins and price gouging are quite prevalent in Indian private healthcare market.
Hailing the Centre's decision to put a cap on prices of coronary stents, a group of doctors today sought a similar cap on the prices of medicines, hip and knee implants and intraocular lenses.
No action will be taken against hospitals under the scanner for overcharging on stents if they refund the money to patients before receiving a demand notice, drug price regulator NPPA said.
The company said mandatory price reductions experienced in the earlier quarters of the year had adversely impacted growth by 5 percent in the current quarter.
Wockhardt chief Habil Khorakiwala says that Indian generic company as a whole is a competitive industry in US and therefore there is no scope for government intervention there. Anmol Ganjoo of JM Financial says if drug prices come down then Indian pharma companies will benefit.
The US market is seeing a shift in market dynamics and several factors lead to drug product pricing and there will be further pricing pressure over the next few years, said GSK Global Chief Executive Andrew Witty.
Agreeing to examine the validity of policy, the apex court sought response from Centre on a PIL alleging that the new policy would result in increase of prices of essential and non-essential drugs.
Drug pricing regulator National Pharmaceutical Pricing Authority (NPPA) said that it will fix the ceiling prices of over 300 formulation-based drugs by the month-end.
The government wants more time to table its new drug pricing norms. The Supreme Court has deferred hearing the matter till the 12th of December. Meanwhile, the pharma pricing policy has been challenged by the All India Drug Action Network (AIDAN).
Here's the latest in the hot debate over drug pricing formula. Trade body All India Organisation of Chemists and Druggists has come out in favour of the proposed market-driven pricing mechanism. But only as long as margins are not compromised, reports CNBC-TV18's Archana Shukla.
In an interview to CNBC-TV18, Kewal Handa, managing director of Pfizer and Vikas Dandekar, India Bureau Chief of PharmAsia News.Com discuss the issue of drug pricing.