Impact of price control on pharmaceutical sector with reference to India Online publication date: Tue, 12-Jan-2021
by Ashutosh Kolte; Hoshiar Mal; Mugdha Fulambrikar; Aishwarya Jagtap
International Journal of Intelligent Enterprise (IJIE), Vol. 8, No. 1, 2021
Abstract: In India, drug prices are controlled and are commonly known as Drug Price Control Orders (DPCO) issued under the Indian Essential Commodities Act of 1955. It is governed by the National Pharmaceutical Pricing Policy (NPPP) and accordingly, a National List for Essential Medicines (NLEM) was formulated. DPCO is useful for controlling the prices of life-saving drugs that are essential in the current scenario of healthcare and diseases. All the essential drugs are included under DPCO and a ceiling price is formulated. Drug prices cannot exceed the limit stipulated by DPCO. We have studied DPCO and discussed its impact on the pharmaceutical sector. The paper encompasses the brief history of DPCO, its contents, objectives, etc. Effects of DPCO on foreign trade is also analysed in this paper. We have attempted to find the effects of drug price control and its implications on the industry as a whole. We have also attempted to gaze future prospects for the pharmaceutical industry.
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