The drug pricing mechanism in the country is likely to be overhauled before the end of this month. Among the changes proposed by the government is the move to introduce a new price index for pharmaceutical products that will become the benchmark to determine prices of all medicines sold in the country — even those that are currently outside the drug price control order.
Even now, the government loosely regulates prices of all medicines in public interest. Prices of around 850 essential drugs are capped by the government.
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