The government has made a significant announcement regarding the pricing of over-the-counter medicines. Starting from the next fiscal year, all medications not listed in the National List will be required to be declared in the National Catalogue. This move eliminates the need for separate approval processes, thereby streamlining the regulatory framework and promoting price transparency.
The decision is expected to have a positive impact on consumers by reducing the complexity and time required for price regulation. It also aims to ensure that all over-the-counter medicines are subject to standardized pricing, which could help in controlling overall healthcare costs. However, some industry stakeholders have expressed concerns about the potential impact on small manufacturers who may struggle with the new compliance requirements.
Healthcare professionals and consumer advocacy groups have welcomed the move, citing the potential benefits for patients in terms of affordability and access. The regulatory body responsible for overseeing the implementation of this policy has stated that they will provide further guidance to ensure a smooth transition for all affected parties.