Prices of 348 medicines, including life saving drugs, will be cheaper soon by up to 80 per cent as the new Drug Price Control Order has come into effect.

Industry experts feel the implementation of the new drug policy will lead to slashing of prices of many anti-cancer and anti-infective drugs by 50-80 per cent.

The government has notified the Drug Prices Control Order (DPCO), 2013, with effect from fifteenth of this month, replacing the 1995 order.

The new order gives power to the National Pharmaceutical Pricing Policy (NPPP) 2012 to regulate prices of 348 essential drugs.

The earlier order had regulated prices of only 74 bulk drugs. As per the new drugs policy, all strengths and dosages specified in the National List of Essential Medicines (NLEM) 2011 will be under price control