More than 600 brands have seen huge reduction in prices after the Centre capped trade margins on five essential medical devices like pulse oximeter, blood pressure monitoring machine, nebuliser, digital thermometer and glucometer, on July 13, 2021. The trade margins have been capped at 70 per cent.
The reduction in prices of these essential items, which are extensively used in treatment of Coronavirus pandemic, will bring long term relief to people in general.
The highest reduction in prices by importers has been on pulse oximeters, blood pressure monitoring machines and nebulisers, the Ministry of Chemicals and Fertilisers said in a statement.
The revised maximum retail price (MRP) effective from July 20, 2021 on all the brands and specifications has been provided to all the state drug controllers for strict monitoring and enforcement, it said further.
On July 13, 2021, the National Pharmaceuticals Pricing Authority (NPPA) had invoked extraordinary powers under the Paragraph 19 of DPCO, 2013, to put a cap on trade margin of the five medical devices.
The maximum downward revision has been reported by an imported brand of pulse oximeter, showing reduction of Rs 2,95,375 per unit, it added.
The downward revision of MRP has been reported by imported and domestic brands across all the categories, the ministry stated.