Hyderabad: With pharma companies not following the essential price list and consumers not benefiting, the National Pharmaceutical Pricing Authority has started issuing notices to the companies.
The NPPA has decided to charge 15 per cent interest on the overcharged amounts and has begun the process of recovering the money. A total of 1,138 notices have been issued and Rs 387 crore recovered so far. The total amount to be recovered is Rs 4,950 crore, but some companies have taken legal recourse.
A senior drug controller said that ceiling prices had been fixed for more than 800 drugs and more than 50,000 formulations. Despite this, companies continued sale of medicines at old prices. There is no co-ordination between the central body and state inspectors due to which the price violations are not being monitored.
