Wednesday, September 08, 2010

Huge difference in procurement prices & MRPs of same drugs exposes profiteering by pharma cos

The vast difference in the prices of drugs procured by the government agencies and maximum retail prices of the same drugs when sold through retail pharmacies exposes the huge profiteering indulged in by pharmaceutical companies. The companies do make a reasonable profit when they offer to the government agencies against tenders but at the retail level the margins charged by them are alarmingly high. For a large number of life-saving medicines, especially for treating cancer, heart ailments, kidney diseases, etc, some of the companies are charging more than 1000 per cent of the procurement prices. This huge difference in procurement price and MRP was revealed through an Right to Information (RTI) in Kerala by an NGO named Janapaksham.

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