"NPPA has fixed/revised ceiling prices of 33 scheduled formulations of Schedule-I under Drugs (Price Control) Amendment Order, 2017 in related notification /order dated 24.01.2017," National Pharmaceutical Pricing Authority (NPPA) said in a statement.
The ceiling price of 11 scheduled formulations has been notified while that of 22 scheduled formulations of has been revised, it added.
As stipulated under the Drugs (Prices Control) Order (DPCO) 2013, NPPA fixes ceiling price of essential medicines of Schedule I.
In respect of medicines not under price control, manufacturers are allowed to increase the maximum retail price by 10 per cent annually.
The calculation for essential drugs is based on the simple average of all medicines in a particular therapeutic segment with sales of more than 1 per cent.
The government had notified the DPCO 2013, which covers 680 formulations, with effect from May 15, 2014, replacing the 1995 order that regulated prices of only 74 bulk drugs.
Set up in 1997, NPPA has been entrusted with the task of fixation/revision of prices of pharma products, enforcement of provisions of DPCO and monitoring of prices of controlled and decontrolled drugs.