National Pharmaceutical Pricing Authority (NPPA) which regulates drug prices in the country, has removed excise and VAT duty on 761 drugs. The prices of these 761 drugs will be reduced even after the GST comes into play.
Most of these medicines are for HIV, diabetes, cancer and some are antibiotics.
NPPA announced it on Tuesday. After GST is going to be imposed in the country July 1 onwards, there were speculations that some medicines could turn out to be more expensive. NPPA has assured that an increase of 2-3 per cent is expected instead of the initial speculation of 12 per cent.
Prices of various antibiotics like Azithromycin, Ciprofloxacin, Clarithromycin, Ampicillin, Amoxicillin have also been lowered. Ibuprofen and Imatinib prices are also fixed at a lower slab.
NPPA has asked pharmaceutical firms to check the list and inform them if there is a need for any correction by June 29.