"Manufacturers and importers may increase their existing MRP's of essential drugs/biologicals (excluding lower-priced) equal to 70% increase in CPI (with a cap of 7%) and MRPs of all other drugs/biologicals and lower-priced drugs up to increase in CPI (with a cap of 10%) subject to conditions," read the notification.
DRAP further stated that the calculations of the revised Maximum Retail Price (MRP) of the medicines will have to be submitted by the concerned manufacturer or importer, signed and stamped by the Managing Director, Managing Partner or CEO or any other authorised person.
"Evidence for authenticity of existing MRPs to the Authority (Division of Costing and Pricing) Calculations of revised MRPs, duly signed and stamped by the Managing Director or Managing Partner or CEO or any authorized person on his behalf, shall be submitted," read the notification.
The government had allowed a 5.14% increase in prices of essential medicines and biologicals whereas it had allowed a 7.3410% increase in prices of other medicines.
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