National Pharmaceutical Pricing Authority (NPPA) has cut the price of Aventis Pharma’s monocomponent insulin Lantus by 2.8% and Novartis’s Vitalux Plus TR tablets by 2.9%, an official close to the development said. “The revised prices will be effective within 15 days,” the official said. This occurs at the time NPAA has increased the rates for many other Recombinant Insulin brands.
NPPA is in charge of monitoring the prices of drugs sold within the country. NPPA periodically exercises its option to revise or fix the pricing of certain bulk drugs and formulation packs that come under Drug Price Control Order (DPCO) 1995 –a statute to regulate prices of essential drugs.
Lantus is Aventis Pharma’s fastest growing drug and its sales have been growing at 33% per annum in India, according to a company spokesperson. Annual sales of Lantus are now worth Rs 50 crore. It was the first once-a-day form of insulin and its effect lasts 24 hours, making it a popular long acting drug.A 10 ml vial of Lantus 100 IU/ml will now cost Rs 2,370.49 instead of Rs 2,439.27. And this is NOT the first time Lantus has had to suffer this fate via NPAA.
Wonder what Sanofi-Aventis plans to offset the loss of revenue?
- Insulin prices to go up in India
- Indian drug makers want Govt to raise prices of medicines under essential drugs list