Short-supply Covid vaccines outliers in govt’s spirited price cap push

Sunday, 16 May 2021Newsdesk

An enduring feature of India’s pharmaceutical regulatory regime has been its intervention in regulating prices of essential medicines — something that the NDA government has progressively expanded over the last six years to now include even medical devices. Paracetamol, ibuprofen, amoxicillin — all molecules with multiple Indian producers, near demand-supply equilibrium and a competitive market environment — are among the 950 plus drugs under price control at the moment.

New Delhi, 16 May 2021

As per news report of The Indian Express, when it comes to vaccines to protect the population amid surging cases in the midst of a pandemic, however, the scenario is diametrically opposite. India currently has just two Covid-19 vaccines in what is clearly a market overwhelmingly dominated by just one player. There is a proven supply constraint and demand is outstripping the availability of the jabs, with 30-odd states and multiple private hospitals chasing the two manufacturers. Here, however, the government has chosen a free market policy when it comes to price setting despite the evident shortage situation, in deviation with its stated policy for essential drugs and even devices.

Source -The Indian Express