Pharma Price Data Bank: Importance for Pharma Sector

Pharma Price Data Bank: Importance for Pharma Sector

Question: The Pharma Price Data Bank was recently launched in India. Discuss its importance for the pharma sector.

• The Pharma Price Data Bank is an integrated Pharmaceutical Database Management System, managed and operated by National Pharmaceutical Pricing Authority (NPPA).

• This is the first data bank of the pharma industry which will help all three of the following:

- Manufacturers
- Regulators
- Masses

• Manufacturers can now fill their mandatory forms online

• Government and NPPA will access complete data

• Consumers will have full information about medicines

• Availability of real time data will also help to make policy interventions

• Data bank will also help in simplifying procedures and help companies to provide timely and comprehensive information

• Pharma Price Data bank is an integrated Pharmaceutical Database Management System that will be used by pharma manufacturers/marketing/ importer/ distributor companies to make online submission of mandatory information/data as prescribed under the Drugs Price Control Order, 2013.

• Facility for price fixation of new drug is also available

Facts and Stats

• 10,000 manufacturers are making over one lakh formulations so consumers can benefit by having complete information about medicines

• Government and NPPA will now have complete information and real time data

• The data bank can be used by pharma manufacturers, marketing, importing and distributor companies