The Central Government, on Thursday, cleared the National Pharma- ceutical Pricing Policy that will bring 348 essential drugs under price control, leading to reduction in prices.

“The National Pharmaceutical Pricing policy has been approved by the Cabinet with an objective to put in place a regulatory framework for pricing of drugs to ensure their availability at reasonable prices,” an official source said. At present, the government through the National Pharmaceutical Pricing Authority (NPPA) controls prices of 74 bulk drugs and their formulations.

The source said the government had also considered providing sufficient opportunity for innovation and competition to support the growth of the pharma industry.

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