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Legal Central Ministry of Chemicals and Fertilizers Essential Commodities Act, 1955

Fixation of Retail Prices and Extension of Knee Implants by NPPA

15-Sep-2023 | S.O. 4076(E)

The National Pharmaceutical Pricing Authority has issued a significant Notification, effective from 15th September 2023, encompassing the fixation of retail prices for 51 formulations, along with 2 special prices and the extension of knee implants.

Key Points:

1. Retail Price Fixation: Manufacturers of the specified formulations, categorized as new drugs under paragraph 2(1)(u) of the DPCO, 2013, are mandated to establish the retail price in alignment with the figures provided in column (6) of the corresponding table.

2. Goods and Services Tax (GST): Manufacturers may include Goods and Services Tax only if they have paid, or it is payable to the Government based on the mentioned retail price.

3. Pack Pricing: The retail price for a pack of the aforementioned formulation is to be determined by the respective manufacturer in accordance with the retail price outlined in column (6) of the table. This process follows the provisions outlined in paragraph 11 of the DPCO, 2013.

4. Price List Submission: Manufacturers must furnish a price list in Form V to NPPA via IPDMS from the date of Notification, as per paragraph 24 of the DPCO, 2013. Additionally, a copy must be submitted to the State Drug Controller and dealers.

5. Retailer and Dealer Obligations: As per para 24(4) of DPCO 2013, every retailer and dealer must prominently display the price list and any supplementary price list provided by the manufacturer. This display must be easily accessible to any person wishing to consult it.

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