In an effort to convince the government to raise the formulation prices in view of the sharp increase in the cost of bulk drugs, intermediates and packaging materials, the Indian Drug Manufacturers Association (IDMA) is planning to meet the officials of the Department of Pharmaceuticals again in the first week of August.
An executive committee meeting of IDMA last week has decided to follow up its request to the ministry to revise the price of scheduled drugs and the ceiling prices to pass on the cost increase in raw materials and packaging materials. According to this, a team of members from IDMA will seek appointment with the Minister of Chemicals and Petrochemicals or with the higher officials in the ministry to endorse its appeal.
"We have already submitted the data on raw materials and packaging materials price increase as per the directions of the ministry. We are aware that the government is sympathetic to the industry on the issue and is making some arrangements to overcome the present situation. However, our high level team will visit the ministry officials in the beginning of next month to hasten the procedures for the benefit of the pharmaceutical industry in the country," said a source from IDMA.
As Pharmabiz reported earlier, the association has submitted a list of case studies on APIs under DPCO to justify its demand for a price hike following an unprecedented rise in prices of raw materials due to the short supply from China.
The IDMA officials has earlier met the higher officials in the ministry to convey their apprehension on the increasing cost increase and the hardships in complying with the drug price control norms of National Pharmaceutical Pricing Authority (NPPA) in this context.
The association appealed the government that even as the overall price hike is affecting the industry as a whole, the government has to take a holistic measure to overcome the crisis. The association also submitted the data including the details of the price variation of non-scheduled bulk drugs, packaging materials, pharmaceutical excipients and costs of utilities during the last some months, to the ministry.