The pharmaceutical companies have asked the government to raise the ceiling prices of drugs, at least on a temporary basis, Business Standard reported.
The request comes in as the prices for the raw materials and the squeeze in margins are compelling the drug firms to cut their production, which can impact the availability of the drug.
"Companies are individually requesting the government to increase prices of formulations under a price cap. When those prices are fixed, active pharmaceutical ingredients (API) prices were low. Now, the increase is hurting them. We support the demand, as companies will be incurring losses by producing these medicines and may be forced to cut production which will impact availability," DG Shah, secretary general of the Indian Pharmaceutical Alliance, told the paper.
The ceiling price for these drugs have been set by the National Pharmaceutical Authority (NPPA) and is reviewed every year.
First Published: IST