Covid-19: Seven pharma firms slash Remdesivir prices after govt intervention
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In a relief to Covid-19 patients, seven pharmaceutical companies producing Remdesivir in India have slashed prices of its drugs by an average of 39% amid a surge in Covid-19 infections across the country, Hindustan Times reported.
According to the National Pharmaceutical Pricing Authority, the sharpest price cut was by Zydus Cadila which reduced the price of its brand Remdac from ₹2,800 for a 100mg vial to ₹899, followed by Redyx by Dr Reddy's whose price went from ₹5,400 per vial to ₹2,700 on government intervention.
"As per the voluntary reduction by the manufacturers on government intervention, these are the revised prices of 'Remdesivir injection 100 mg/vial'," the pharmaceutical price regulatory body announced on Saturday.
On government intervention, the companies also increased production to meet the rising demand due to a surge in cases of the viral infection in the second wave. The country's production of the antiviral drug has gone up from 2.8 million to 4.1 million vials per month during the past week, the Union government announced.
"On Govt's intervention, major Manufacturers of #Remdesivir have voluntarily reduced its MRP ranging from ₹5400 to less than ₹3500 by 15.04.2021…," Union minister for chemicals and fertilizers Sadananda Gowda said in a tweet.
The central government has distributed close to 700,000 vials of Remdesivir to various states and Union territories across the country, especially the most affected areas, during the past five days.
"Government is taking every necessary step to accelerate the production facilities of #Remdesivir, its capacity enhancement & availability," Gowda said in another tweet.
According to the national treatment protocol, injected Remdesivir is one of the investigational drugs approved for use in treating hospitalised Covid-19 patients.