Health Ministry to consider raising the number of drugs subject to price caps

Mumbai: The Health Ministry has formed a committee that will meet for the first time on Tuesday to consider raising the number of drugs deemed essential and subject to price caps, people directly involved in the process said.

The committee will consider adding more drugs to the National List of Essential Medicines, all of which would then come under price controls, one of the people told Reuters.

New Delhi last year raised the number of drugs that are subject to price controls to 348, up from 74 earlier, with a view to make medicines affordable for the 70 per cent of people living on less than $2 a day.

Although a decision is unlikely to be made soon, the move will draw the ire of global drugmakers like Pfizer Inc, GlaxoSmithKline Plc and Abbott Laboratories all of which have a large presence in India's $15 billion pharmaceutical industry.