Healthy Skepticism Library item: 14814

Warning: This library includes all items relevant to health product marketing that we are aware of regardless of quality. Often we do not agree with all or part of the contents.

Publication type: news

Ahmed R.
India Drug Price Regulator Asks Pharma Cos To Cut Prices
Dow Jones Newswires 2008 Dec 15
http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20081215%5CACQDJON200812150903DOWJONESDJONLINE000366.htm

Full text:

India’s National Pharmaceutical Pricing Authority has asked all pharmaceutical companies in the country to cut drug prices by 2.84%, to pass on to consumers the benefit of a recent excise duty cut, the Indian government said Monday.

“All manufacturers and marketing companies of formulations packs are advised to ensure that the benefit of this excise duty reduction and the reduced rate of abatement is passed on to the consumers through reduced maximum retail price,” a statement from the government said.

The federal government on Dec. 7 cut excise duty by 4 percentage points on all manufactured products, leading to a reduction in the rate of excise duty on medicines to 4% from 8%.