For better sense on drug pricing
India will soon have its new drug-pricing policy that will determine prices at which pharma companies can sell essential medicines in the retail market. The National Pharmaceutical Pricing Policy, 2011, seeks to evolve a formula to fix the maximum retail prices of 348 essential drugs and also decide on the span of control. The draft policy, unveiled by the department of pharmaceuticals in October last year, proposes to cap prices of 348 essential medicines and their formulations at the average price of the three best-selling brands. However, the health ministry and NGOs have opposed the proposal. It is now pending before a group of ministers.