New Delhi, Sept. 12 -- The National Pharmaceutical Pricing Authority (NPPA) on Friday issued a directive to all drug and medical device manufacturers, directing them to immediately reduce the maximum retail price (MRP) of their products.

This move comes as a response to the government's decision to rationalize goods and services tax (GST) rates on drugs and formulations, a recommendation made during the 56th meeting of the GST Council.

The NPPA's action, effective 22 September, aims to ensure that the benefits of the GST reduction are passed directly to the public.

In an official memorandum on Friday, the NPPA laid out clear instructions for the pharmaceutical industry.

It said that all manufacturers and marketing companies must revis...