National drug pricing regulator NPPA on 25th
Nov, 2017 said it has capped prices of 51 essential formulations, including those used for the treatment of cancer, pain, heart conditions and skin problems.
The prices have been slashed in the range of 6 to 53 per cent.
NPPA is an organization of the Government of India which was established, inter alia, to fix/ revise the prices of controlled bulk drugs and formulations and to enforce prices and availability of the medicines in the country, under the Drugs (Prices Control) Order, 1995.
The organization is also entrusted with the task of recovering amounts overcharged by manufacturers for the controlled drugs from the consumers.
It also monitors the prices of decontrolled drugs in order to keep them at reasonable levels.