Article: Why Drug Price Control Order Act is Important for Medicine Pharma Companies in India?
The Drug Price Control Order Act is one of the most important public services acts the central government has done. It is part of the Essential Commodities Act which enables the government to fix the ceiling of prices of some essential drugs and their commodities. The DPCO Act is of huge importance to the pharma industry and top PCD pharma companies in India in many ways. This article talks about them.
What is DPCO?
Under the said Act, the central government can fix the prices of some essential drugs that are sold in the Indian market. Considering that many drugs are life-saving and are required by critical patients to live their lives, keeping their prices under control is an important goal for the government. That is why with this Act, the government can decide the highest price these drugs and their formulations can be sold at.
Pharma companies in Chandigarh have to put a lot of importance on the DPCO Act because it helps them decide the prices of the medicines and drugs they manufacture.
Benefits of The DPCO Act to Indian Society
● Stable Prices of Medicines
The very reason that the central government added DPCO to the Essential Commodities Act was that many pharma companies were increasing the prices of the medicines they were selling to increase their profits. This was hurting the end customer: the patients themselves as many of them could not afford to pay a lot of money for medicines.
With this Act, medicine franchise companies can enter the pharmaceutical industry on an equal footing by offering stable prices to customers so that patients can get the healthcare they deserve.
● Comfortable Pricing of Life-Saving Drugs
Many patients rely on medicines to keep them alive and their bodies function the way they should. This includes accident victims, cancer, and other terminally ill people. With the DPCO Act, the government stabilized the essential drugs market so that a pharma franchise company has to keep the prices within reach of the common man in India.
That is why life-saving drugs are now available at prices that will meet the finances of most people.
● Healthcare Sector Has Prospered
With the prices of medicines sealed, it is now possible for the healthcare sector in India to offer better services to patients. Previously, doctors and healthcare professionals were at a loss because they couldn’t find alternatives to essential drugs at lesser prices for their patients. But with PCD pharma companies making many generic drugs available, it is now possible for them to offer a higher quality of healthcare services with ease.
This is great news for the people of India as they have easier access to better healthcare.
Why DPCO is Important for Medicine Pharma Companies in India?
In a country where doctors are more likely to give the brand name of the medicine to the patient rather than the generic formulation, the DPCO Act has made it easier for them to change their ways. The Act has also opened newer business ventures by PCD pharma franchise owners. Now they can get marketing and distribution rights from pharma companies and use their networks to make medicines easily available to patients all over the country.
Conclusion
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