The government has reduced the prices of 41 commonly used medicines and six formulations used to treat diseases such as diabetes, heart and liver ailments.
Antacids, multivitamins, and antibiotics are among the medicines that will become cheaper, according to a notification issued by the Department of Pharmaceuticals and National Pharmaceutical Pricing Authority (NPPA).
The pharma companies have been instructed to pass on the information on the reduced price of various medicines to dealers and stockists with immediate effect.
The decision was taken at the 143rd meeting of the NPPA in order to ensure that the cost of essential medicines remains affordable for the public.
India is among the countries with the highest number of diabetes cases in the world with over 10 crore diabetes patients in the country who are expected to benefit from the price cut.
Last month, the Department of Pharmaceuticals released its annual revised ceiling prices for 923 scheduled drug formulations and revised retail prices for 65 formulations, effective April 1.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Featured Video Of The Day
Good News For Cardiac Patients! Govt Slashes Prices Of Stents By Up to 85% Pesticide Use Can Cause Diabetes: Scientists Sound Warning Air Pollution Puts Diabetic Women at High Heart Disease Risk Russia's Firing Of ICBM On Ukraine Is Weapon's 1st Combat Use In History Amazon Employee Greets Friend At Wedding, Dies Of Cardiac Arrest This Asian City Is Emerging As Sex Tourism Hub. It's Not Where You Think Noted Surgeon Dr Mathew Varghese Named 'The One International' South Korea Court Jails Ex-Fiance Of Olympic Medalist For 13 Years Trump Pick Matt Gaetz Withdraws As Nominee For US Attorney General Track Latest News Live on NDTV.com and get news updates from India and around the world.