INDIA -The Nationwide Pharmaceutical Pricing Authority (NPPA) has directed all producers and advertising firms of medication, formulations and medical gadgets to cut back costs of merchandise already available in the market
NPPA has asked all producers and advertisers to revise their utmost retail cost of medications on which Goods and Service Tax (GST) have been diminished.
The regulatory body has requested the involved parties to recall, relabel products of launched shares available in the market in order to have them meet the regulatory compliance.
Producers will be made accountable for ensuring that costs are diminished by each retailer with speedy impact regardless of the outdated worth tags as well as be required to name again the whole inventory and revise the brand new diminished worth tags.
The adjustment will also be applicable to all the relevant inventories that are already within the market which include remdesivir injections for COVID-19, anti-coagulants, medical grade oxygen, oxygen mills, pulse oximeters, ventilators and specified diagnostic kits.
Additionally, sanitizers, temperature checking tools and electrical furnaces utilized in crematoriums have been lowered to 5% from 18% with Tocilizumab used to treat COVID-19 and Amphotericin B used for black fungus being exempted.
With a crippling health system and a total of about 29.8 million reported cases of COVID-19 and over 380000 related deaths, the country is also witnessing a thriving black-market drug sales as hapless people across the country struggle to find available hospital beds, life-saving drugs and medical oxygen.
Dealers are hoarding vital supplies and creating an artificial shortage and selling them to hapless people at exorbitant rates creating supply chain shortage of antiviral drugs despite the country being a leading producer of generic drugs.
The regulatory body made this move to better help the Indian citizens gain access to health-related essentials at less exorbitant prices.
The law enforcing authorities are also cracking down on cartels with the most recent raid nabbing over 400 oxygen concentrators.
