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Indian regulator asks drug firms to cut prices 2.84%

Indian regulator asks drug firms to cut prices 2.84%
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First Published: Mon, Dec 15 2008. 05 52 PM IST
Updated: Mon, Dec 15 2008. 05 52 PM IST
New Delhi: India’s drug prices regulator has asked pharmaceutical firms to cut prices by 2.84% to pass on a recent tax reduction, the government has said.
All manufacturers and marketing companies of formulation packs are advised to ensure that the benefit of this excise duty reduction is passed on to the consumers through reduced maximum retail price, a statement from the ministry of chemicals and fertilisers said.
The National Pharmaceutical Pricing Authority regulates prices of drugs in India and is overseen by the ministry of chemicals and fertilisers.
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First Published: Mon, Dec 15 2008. 05 52 PM IST