Press Information Bureau

Government of India

Ministry of Chemicals and Fertilizers

26-April-2012 14:03 IST

The National Pharmaceutical Pricing Authority (NPPA) has noticed wide variation in the price of scheduled formulations imported in finished form as compared to indigenously produced formulations containing the same drug. NPPA has also noticed that most of the formulations are imported in the country from their principals abroad. Therefore, it was decided by NPPA that importers of such formulations may be asked to furnish the details of CIF price specifically related to their costs in order to keep check on higher prices of imported formulations.

This information was given by the Minister of State for Chemicals and Fertilisers, Shri Srikant Kumar Jena in a written reply in the Lok Sabha today.

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DNM/AS

Import price disclosure: importers may be required to furnish CIF cost details to curb higher drug prices. NPPA observed price differentials between imported finished formulations and domestically produced equivalents supplied by foreign principals, and decided importers may be required to furnish details of the CIF price tied to their cost components to enable regulatory oversight of higher prices for imported formulations.