The National Pharmaceutical Pricing Authority (NPPA)

• Vaid's ICS, Lucknow
• 28, Mar 2022

Why in News?

The National Pharmaceutical Pricing Authority (NPPA) has announced a hike in prices of around 800 essential drugs from 1 April. These drugs are included in the National Essential List of Medicine (NELM).

• The rise in drug prices works out at around 10.76% based on the Wholesale Price Index (WPI)

Basis:

The clause 16 of Drugs Price Control Order 2013, allows NPPA to revise the ceiling price of scheduled formulations as per the annual wholesale price index (WPI) for the preceding calendar year on or before 1 April of every year and notify the same on the first day of April every year.

About the National List of Essential Medicines (NLEM):

Under the provisions of Drug Prices Control Order, 2013, only the prices of drugs that figure in the National List of Essential Medicines (NLEM) are monitored and controlled by the regulator, the National Pharmaceutical Pricing Authority.

• Essential medicines are those that satisfy the priority healthcare needs of the majority of the population.
• The primary purpose of NLEM is to promote rational use of medicines considering the three important aspects i.e. cost, safety and efficacy.

About NPPA:

• NPPA was constituted by the Government of India in 1997 as an attached office of the Department of Pharmaceuticals (DoP), Ministry of Chemicals & Fertilizers as an independent Regulator for pricing of drugs and to ensure availability and accessibility of medicines at affordable prices.
• It was made to fix/revise prices of controlled bulk drugs and formulations and to enforce price and availability of the medicines in the country, under the Drugs (Prices Control) Order, 1995-2013 (DPCO).

Facts for Prelims :

Stablecoin?

• A stablecoin is a type of cryptocurrency that is typically pegged to an existing government-backed currency.
• The majority of the dozens of stablecoins that currently exist use the dollar as their benchmark asset, but many are also pegged to other fiat currencies issued by governments like the euro and yen.
• As a result, the price of stablecoins fluctuates very little, unlike high-profile cryptocurrencies like bitcoin and ethereum that are prone to sudden ups and downs.
• Stablecoins are useful because they allow people to transact more seamlessly in cryptocurrencies that function as investments, such as Bitcoin.
• They form a bridge between old-world money and new-world crypto.
• The first stablecoin, created in 2014, was Tether, which many other stablecoins are modeled after.

Pensilungpa Glacier:

• The Pensilungpa Glacier is located in Zanskar, Ladakh.
• It is retreating due to an increase in the temperature and decrease in precipitation during winters.
• The Zanskar Range is a mountain range in the union territory of Ladakh that separates Zanskar from Ladakh.
• Geologically, the Zanskar Range is part of the Tethys Himalaya.
• Marbal Pass and many other passes which connect Ladakh with Kashmir are in this area.
• 13000 feet high Zojila Pass is in the extreme northwest of Zanskar range.