The drug is categorized as essential commodity under Section 3 of the Essential Commodities Act, 1955 and certain categories of the drugs are kept under price control.
The Drugs (Price Control) Order
(OPCO), 1995
(Under Sections 3 of the Essential Commodities
Act, 1955), as published in the Gazette ofIndia C, Extraordinary Part II
Section 3, Sub. Section (ii) dated 6.1.199-1 with amendments.)
The
drug is categorized as essential commodity under Section 3 of the Essential
Commodities Act, 1955 and certain categories of the drugs are kept under price
control.
Based on New Drug
Policy and Pharmaceutical Policy 2002 framed to meet the challenges of
Post-GATT era, the DPCO was modified in order to facilitate the process of
globalization of pharmaceutical trade and ensure production of quality
medicines. The new patent regime in post-WTO era has thrown new challenge in
the field of drugs and pharmaceuticals.
It
is to make Indian pharmaceutical companies globally competitive, amendments
were made to DPCO, from time to time, and several concessions were offered for
promotion of indigenous R&D efforts. DPCO is a Government Order notified by
Ministry of Chemicals and Fertilizers, Department of Chemicals, dated 6.1.1995
for regulating the price structure of certain categories of drugs and their
formulations including life-saving drugs.
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