The Indian Drugs Manufacturers Association (IDMA) claims at least 30 odd member companies of the organization have voluntarily reduced prices of branded generic products, as per the appeal of the Union Minister for Chemicals and Petrochemicals and subsequent discussions with the related stakeholders.
According to IDMA, the companies that have reduced prices include Albatros Healthcare Pvt. Ltd., Alkem Laboratories Ltd., Baroda Pharma Private Limited, Bescoat, Biochem, CFL Pharmaceuticals Ltd., Dagon Pharmaceuticals Pvt. Ltd., Dana Pharmaceuticals Pvt.Ltd., Dupen Laboratories Pvt. Ltd., DWD Pharmaceuticals Ltd., Eu - Medicaments, Group Pharma, Hindustan Pharmaceuticals, Indoco Remedies Limited, Ind-Swift Ltd., Intas Pharmaceuticals Limited, Ipca Laboratories Limited, Lyka Labs Limited, Lark Laboratories (India) Ltd., Medley Pharmaceuticals Ltd., Mercury Laboratories ltd., Natco Pharma Limited, RPG Life Sciences, Shine Pharmaceuticals Ltd., South India Research, Stadmed, Troika Pharma and Unimax.
The IDMA data said a percentage wise reduction between 5 to 92 per cent has been done in many of the brands manufactured by these companies. The association said most of its members have voluntarily reduced the prices of branded generic products manufactured by them and some of the existing prices are already lower than the price of brand leaders in that segment.
The association also said its members have further voluntarily agreed to reduce the trade margins for all such products which are higher than the current trade margin of 8 per cent to wholesalers and 16 per cent to retailers in the case of scheduled drugs and 10 per cent to wholesalers and 20 per cent to retailers in the case of non-scheduled drugs. These prices would be revised downwards so as to ensure that the margins do not exceed 15 per cent and 35 per cent to wholesalers and retailers respectively, said an IDMA communication.