Northerner
Admin (Retired)
- Relationship to Diabetes
- Type 1
The fight between insulin makers and India's drug price regulator, the National Pharmaceutical Pricing Authority, over differential pricing for Indian and foreign manufacturers, is getting more intense. After Eli Lilly, Biocon and Wockhardt, the latest challenge has come from Torrent Pharmaceuticals. The Ahmedabad-based company has questioned a 2012 order by the drug regulator asking it to cut prices by around 17 per cent.
The discontent in the Indian insulin market has been simmering for some time now. At the heart of it is the complex set of rules and regulations that govern insulin pricing in the country. While domestic insulin makers come under direct price control, companies that import and sell are prescribed a profit margin over the cost of production. Industry experts and medical practitioners say the current price of imported insulin is 20-30 per cent higher than that produced domestically. In any other market, this ought to have driven consumer towards the cheaper Indian option. But insulin is sold only on prescription ? diabetics never experiment with insulin. So, the demand for insulin is price-inelastic.
http://www.business-standard.com/ar...policy-on-insulin-pricing-113020701224_1.html
The discontent in the Indian insulin market has been simmering for some time now. At the heart of it is the complex set of rules and regulations that govern insulin pricing in the country. While domestic insulin makers come under direct price control, companies that import and sell are prescribed a profit margin over the cost of production. Industry experts and medical practitioners say the current price of imported insulin is 20-30 per cent higher than that produced domestically. In any other market, this ought to have driven consumer towards the cheaper Indian option. But insulin is sold only on prescription ? diabetics never experiment with insulin. So, the demand for insulin is price-inelastic.
http://www.business-standard.com/ar...policy-on-insulin-pricing-113020701224_1.html