As readers would recall, earlier this month National Pharmaceutical Pricing Authority had capped the prices of 108 anti-diabetic and cardiovascular formulations, sending the pharma industry into a tizzy. I had blogged about it here. It was noted that the inter-brand price differentials for some drugs was as high as ₹360. Even after accounting for quality differences,huge inter-brand price variation is indicative of a severe market failure. The NPPA invoked powers vested with it under paragraph 19 of DPCO, 2013 according to which the...
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