NEW DELHI: The All India Syringes and Needles Manufacturers Association has issued a circular to its members to print the maximum retail price (MRP) on the basis of a maximum of 75% margin from December 24, which is observed as Consumer Day, and to implement this latest by January 26 next year.
Members of the association account for an estimated 85% of the market for syringes and needles in India. A voluntary cap by them would, therefore, put pressure on foreign manufacturers to follow suit.
Syringe prices to fall by 2/3rd, half
We estimate that for many brands of syringes in the hospital segment, the prices will fall by at least two-thirds and in the chemists segment for many brands it will fall by half except for brands which were already selling for less than 75% trade margin, Rajiv Nath, president of AISNMA and chairman and MD of Hindustan Syringes and Medical Devices Ltd, told TOI. He added that in the case of corporate hospitals the fall could be even more.
The circular followed a meeting called by the NPPA on December 18 on the issue of "excessively high and unreasonable margins" on syringes and needles. NPPA chairman Bhupendra Singh advised the manufacturers to regulate the prices themselves, failing which the government would be forced to take steps as it had done to cap the price of stents and orthopedic implants.
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