India is to extend its price control of essential medicines from the current 34 to at least 400 drugs, accounting for approximately 60% of the domestic pharmaceutical market.
The National Pharmaceuticals Pricing Policy 2011, proposed by the Indian Government, seeks to cover all 348 medications named in 2005’s National List of Essential Medicines, as well as other medications added earlier this year.
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The policy also promises to change the way prices are regulated, switching from a method based on market share to one based around the weighted average price of formulations belonging to the leading three brands.
Issued by the Department of Pharmaceuticals, the policy is also set to freeze prices on all drugs under price control for a further two years.
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