The Indian Drug Manufacturers Association (IDMA) has requested the drug price regulator to increase the prices of bulk drugs citing the depreciation in rupee value and hike in the prices of raw materials. The IDMA also highlighted the fact that most of the drugmakers are running heavy losses due to the shortage of intermediaries, custom duties and high prices of raw materials imported from China.
However, the National Pharmaceutical Pricing Authority refused to reverse its price cuts although it added that it will consider individual applications from companies, on presentation of evidence of their problems.
Multinational companies on the other hand are reportedly planning to offer differential pricing for new drugs in India. While Daiichi Sankyo is planning to launch its antihypertensive Benicar (olmesartan medoxomil) 200mg tablet in India at a cost of INR9-10, compared with its equivalent price in Europe of INR42-50, GlaxoSmithKline has said it will introduce its cancer treatment Tykerb (lapatinib) in India at a 25% discount to its global price.
Similarly, Merck & Co’s diabetes drug Januvia (sitagliptin) is sold in India at about one-fifth of its US price, while Pfizer’s smoking-cessation drug Champix (varenicline) costs less than half in India as it does in the US.