NPPA Declines Pharma Companies Demand for Insulin Price Hike
Drug price regulator, National Pharmaceutical Pricing Authority (NPPA) has turned down the request from major pharma firms including Eli Lilly and Biocon to increase the price of insulin used for diabetes treatment.
"Major manufacturers and importers of diabetic drug insulin such as Eli Lilly, Cadila, Lupin, Biocon had applied for upward revision in the retail price of insulin," said the drug price regulator.
However, keeping in mind the interest of large number of consumers, the prices of insulin formulations have been maintained at the existing level "by suitably adjusting the profit margin to ensure abundant availability of insulin formulations at reasonable prices," it added.
Currently, insulin is available at a price range of Rs 160.26 for a 10ml vial and Rs 482.33 for a 3ml pre-filled pen.
On July 19, 2012, the NPPA had fixed prices of 154 different drug formulation packs including vitamin C and its derivatives.
According to the NPPA, drug formulations containing vitamin C and its derivatives had been revised on suo-moto basis to pass on the benefits of reduction in bulk drug prices to consumers as manufacturers had failed to send the price revision application to NPPA within the stipulated time.
In those cases, the prices have been reduced from 0.12% to 37.76% of the existing price, resulting in lower prices for Vitamin C formulations, which will benefit the consumers, NPPA said.
The decision is likely to impact drug makers like GlaxoSmithKline, Piramal and Pfizer.
Cipla Strategizes Rs 500cr Investment to Set Up API Facilities
Pharma major Cipla plans to invest Rs 500 crore for setting up active pharmaceutical ingredients (API) facilities at Patalganga, Bengaluru and Kurkumbh. The setting up of these facilities is expected to be completed by 2012-13, the company said in its annual report.
The report said that several dosage forms and APIs manufactured at the company's facilities continued to enjoy the approval of major international regulatory agencies such as USFDA and WHO.
The company is actively involved in developing bio- similars/ bio-therapeutic products through its partners in China. It is expected that the clinical trials on these drugs will be completed in 2-3 years and subsequently, the products will be launched in India.
The company's venture into stem cell-based products is under progress with a major investment in Stempeutics Research Pvt Ltd, Bengaluru. Currently, clinical trials for regulatory approvals for certain therapeutic areas are underway in India and Malaysia. The launch of the stem-cell-based products is expected in three years, it said.
The company said international business also continued to be a major revenue driver. During FY2011-12, more than 53 per cent of the total income originated from international markets.
The company is expanding its presence in the inhaler segment in Europe, with regulatory approvals for a few products already in place and few more in the pipeline. In the US, the company is exploring all options, including filing its own Abbreviated New Drug Applications (ANDAs), it said.
NPPA Declines Pharma Companies Demand for Insulin Price Hike