The 16-member draft drug policy review committee constituted by the Ministry of Chemicals and Fertilizers would finalize its recommendations within three weeks, Ram Vilas Paswan, Union Chemicals Minister has said. The proposed Drugs (Price Regulation and Control) Act would be finalized after the committee's final recommendation, he added.

Speaking at a press conference here, the minister said that the prime objective of the government is to have an effective check on the drug prices and the need for intense monitoring of drugs. On the proposed Act, the minister said that the new law would be enacted to have effective control on prices, production, distribution and supply of medicines. The proposed Act is to replace the existing Drug Price Control Order (DPCO) and would empower the government to impose a price ceiling or limit the increase in price of medicines. It will also empower the government to control the prices of medicines in a more effective manner.

The Act is to authorize the government to seek any information or relevant data relating to medicines from all the stakeholders and would provide for the penalties for violation or non-compliance. These penalties could be graded as fines, withdrawal of marketing approvals, withholding of marketing approvals, ceiling of production facilities and compounding of offences etc.

"While the Act would have broad based enabling provisions, the exact nature and modalities of price control would be decided in the National Pharmaceutical Policy and implemented through a new DPC," he stated.