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IndiaPosted at: Nov 20 2019 11:12PM


Cabinet approves extension of extant Pharmaceuticals Purchase Policy

New Delhi, Nov 20 (UNI) The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved extension of Pharmaceuticals Purchase Policy (PPP) for pharmaceutical Central Public Sector Undertakings (CPSUs) till their closure/strategic disinvestment.
Briefing reporters on Cabinet decisions, Union Finance Minister Nirmala Sitharaman said extension, renewal of the policy would help the pharma CPSUs in optimum utlilization of their existing facilities, enable them to generate revenues to pay salaries to their employees, help them in keeping the costly, sophisticated machinery in running condition resulting in higher return at the time of disposal in case of CPSUs under closure and better valuation in case of CPSUs under disinvestment.
Pharmaceuticals Purchase Policy (PPP) was approved by the Cabinet on 30.10.2013 for a period of five years in respect of 103 medicines manufactured by pharma CPSUs and their subsidiaries. The policy is applicable to purchases by Central/ State Government departments and their Public Sector Undertakings etc. The pricing of the products is done by National Pharmaceutical Pricing Authority (NPPA). The procuring entity can purchase from Pharma CPSUs and their subsidiaries subject to their meeting Good Manufacturing Practices (GMP) norms as per Schedule ‘M’ of the Drugs & Cosmetic Rules. The term of the policy expired on 09.12.2018.
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