The Chemicals and Fertilizers ministry has decided to give six months time to the importers of drugs to comply with the amended Drugs (Price Control) Order 2006 that calls for printing 'maximum retail price inclusive of all taxes' on packs of medicines. The imported drugs will now have to bear MRP inclusive labels from March 1, 2007. The ministry is soon to issue a notification in this regard.
As Pharmabiz reported earlier, the importers of drugs had been seeking a six-month extension on MRP inclusive labelling requirement, as they need to clear the existing stocks that are ready for import.
The Department of Chemicals, had finalized a circular clarifying various doubts of the stakeholders with regard to the DPCO amendment few days ago. The circular is to reach all industry associations, state governments and National Pharmaceutical Pricing Authority. The clarification aims at explaining the position National Pharmaceutical Pricing Authority (NPPA) is to take in fixing ceiling prices during the post MRP inclusive regime.
The circular clarified that companies can use appropriate abbreviations that are permitted under 'Standard of Weights and Measures' (Package Commodities) Rules 1977. It also stated that the onus to work out Excise Duty, Sales Tax, Value Added Tax and resultant MRP would be on the manufacturers.