Drugs Current Affairs - 2019

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Union Government allows pharmaceutical companies to hike rates of 509 essential medicines

Union government has allowed pharmaceutical companies to hike rates of 509 essential medicines by 3.84 per cent. The new prices will be effective from 1 April 2015.

In this regard, National Pharmaceutical Pricing Authority (NPPA) has issued a notification under Drug Price Control Order (DPCO), 2013 in line with the wholesale price index of 2014.

These essential medicines are used for treating various ailments like hepatitis B and C, diabetes, and cancer.

Presently, Union government regulates prices of a total of 348 essential medicines based on the simple average of all medicines in a particular therapeutic segment with sales of more than 1 per cent.

Union government also regulates prices of all other medicines and pharma companies are allowed to hike prices of such drugs by only up to 10 per cent in a year.

DPCO, 2013 was notified by the Union government with an effect from May 2014. It has replaced the 1995 order that regulated prices of only 74 bulk drugs and covers 680 formulations.

Month: Categories: Business, Economy & Banking

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Jamaica passes law to decriminalises marijuana for personal use

Jamaica’s Parliament on 25 February 2015 has passed a law to decriminalise the possession of small amounts of marijuana up to 57 grams for personal use.

The newly passed law allows licensing authority to oversee the medical and scientific uses of the Marijuana plant in the country.

Jamaica’s decision to legalise marijuana comes in line with global trend which include several Latin American countries and US states that have decriminalised marijuana possession.

Marijuana is widely grown in Jamaica and has cultural roots there. It is also the biggest exporter of marijuana to the United States among Caribbean countries.

Global trend of decriminalisation of marijuana

  • In 2014, Uruguay was the first country in the world to approve the growth, sale and distribution of marijuana.
  • In United States, states like Alaska, Colorado, and Washington have legalises the sale and possession of marijuana for both medical and non-medical use.
  • Mexico, Colombia and Argentina also have decriminalised the possession of small amounts of marijuana.

About Marijuana

  • Marijuana is a greenish-gray mixture of the dried, shredded leaves, stems, seeds and flowers of Cannabis sativa – the hemp plant.
  • Most people smoke marijuana, though it can also be used in other forms such as edibles, powders and oils.
  • Medicinal values of marijuana is used as a drug for controlling pain for medical issues, like cancer, nervous system diseases, glaucoma, migraines, etc. It also can be used to treat nausea and improve appetites for people with HIV or other chronic illnesses.

Month: Categories: International

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