The National Pharmaceutical Pricing Authority (NPPA) has fixed the retail prices for 54 pharmaceutical formulations. These prices are exclusive of Goods and Services Tax, if applicable. These prices were notified on June 14, 2024.
Manufacturers of specific formulations classified as “new drugs” under the Drug Price Control Order (DPCO), 2013 must set the retail price as specified in this notification.
Manufacturers may add Goods and Services Tax to the retail price only if they have already paid or are obligated to pay it on the stated retail price.
The retail price for these specified formulations must match the specified price. Manufacturers are required to submit a price list in Form–V via IPDMS to the National Pharmaceutical Pricing Authority (NPPA) and provide copies to State Drug Controllers and dealers.
Retailers and dealers must clearly display the price list provided by manufacturers to ensure it is easily accessible to customers.
The established retail price applies solely to manufacturers/marketers who have requested price fixation/revision by submitting Form-I and have met all statutory requirements, including obtaining the necessary licenses from the Central/State Licensing Authority.
Manufacturers/marketing companies that do not adhere to the specified retail prices must deposit the overcharged amounts with interest, in accordance with the DPCO, 2013, and the Essential Commodities Act, 1955.
Any previous price orders for the specified formulations issued before this notification are superseded by this retail price fixation for the specified manufacturers and marketing companies.
