In order to control the rising out of pocket expenditure on medicines, a six-member committee has been set up revisit the pharmaceutical pricing policy to make drugs affordable for the common man.
The panel has been set up by the Department of Pharmaceuticals (DoP) to suggest policy measures as well as introduce penalty in the drug law to deter pharma companies from overcharging consumers.
Prime Minister Narendra Modi has directed DoP to take immediate measures to make drugs more affordable.
Healthcare expenditure in India has been on the rise due to the burden of diseases like cancer, diabetes and hypertension among the people.
The newly-constituted panel has representatives from the Health Ministry, National Pharmaceutical Pricing Authority (NPPA), Drugs Controller General of India (DCGI) and National Health System Resources Centre (NHSRC) apart from DoP itself.