Post-GST, fewer than 20% of pharma formulations saw price hike: Minister

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The Goods and Services Tax (GST) regime has impacted the prices of fewer than one-fifth of total pharmaceutical formulations with prices going up by about 2.3 per cent for these, the government has submitted.

“The government has analysed the impact of GST on prices of the formulations and it is noticed that there will be almost no impact on the prices of non-scheduled formulations which account for nearly 80 per cent of the total pharmaceuticals sector,” said Minister of State for Road Transport & Highways, Shipping and Chemicals & Fertilizers, Mansukh L Mandaviya, in a written reply to a question in Rajya Sabha on Friday.In respect of scheduled formulations, there is no impact on the prices of about 4 per cent of formulations, which mainly include formulations related to immunisation programme, anti-cancer, oral rehydration salts and contraceptives.

Source:http://www.thehindubusinessline.com/economy/postgst-fewer-than-20-of-pharma-formulations-saw-price-hike-minister/article10000695.ece

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