( Expressing concern over the proposal to...)Expanding Price Control Detrimental for Pharma Companies: CII,Health

Expressing concern over the proposal to expand price control from 74 to 354 drugs in the proposed national pharmaceutical policy//, industry chamber CII today said the step will prove detrimental to the growth of the industry as well as the economy.

"Healthy competition between pharma companies already ensures reasonable pricing. Instead of affecting the growth by over regulation, it would be better to allow market forces to determine prices," CII's National Committee on Drugs and Pharmaceuticals Chairman Ajay Piramal told reporters after a meeting with the committee members here.

The committee suggested that the government should maintain 'status quo' on the current 74 bulk drugs under cost based price control and effective monitoring of the National List of Essential Medicines (NLEM) drugs to control any abnormal price increase.

It also proposed to allow government agencies to procure at a ceiling price of 50 per cent of MRP voluntarily and provide adequate incentives for R&D oriented Indian companies.

"Any sudden regulatory shocks like increased price contro would be detrimental to the industry and the economy," Piramal said.

Quoting independent studies, Piramal said that there had been an average five per cent decline in real terms over the last four years and drug prices in India are among the lowest in the world.

He pointed out that product patent regime will impact the industry leading to higher investment requirement for R&D.

"Large investments in R&D are critical for affordable medicines in the future," he said.

Source:PTI News
'"/>




Page: 1
Related medicine news :

1. Obesity And Expanding Waistlines the next Epidemic in USA
2. Expanding waistlines: Only a tip of the iceberg?
3. Drug Prices in India to be Monitored - NPPA to Tie up with ORG
4. Price Of Alcohol Does Not Influence Consumption
5. Delhi Sees Sharp Decline In Chicken Prices
6. Prices of eggs, egging its way upwards
7. Chicken Prices Show an Upward Trend – Consumers, Not Scared Chicken Anymor
8. The Price Of Autism
9. The Price Paid for New Lifestyle
10. Drug Prices Hit The Roof In Malaysia
11. IVF Price To Be Reduced If Women Opt For Egg Sharing Scheme