Kiran Mazumdar seeks 5 year exemption from drug price control
Advertisement
Advertisement
Mazumdar-Shaw, who was here to attend the meeting of Board of Trade, said: "When we are trying to invest in expansions, scale up and creating global scale, we need exemption from price control at least for a period of five years."
Explaining the rationale for such a demand, she told PTI: "This will incentivise investments in our sector because I really believe that this sector is trying to build global scales."
Criticising the manner in which the government has tried to bring more medicines under price control, she said: "The moment you introduce price control on products that we are investing in a very ad hoc way, I think this also disincentivises investment."
Later on speaking to reporters after the meeting, she said: "How do you incentivise the pharma sector if you are going to bring in drug price control (in an ad hoc manner)?"
Advertisement
She further said: "If you are making a huge investment, you need a certain returns on investment (RoI), you need be to be assured of that RoI but suddenly mid-term you cannot impose a price control."
During the Board of Trade meeting, which met after a gap of three years, she said it was discussed "how do we bring in policies that give you some stability and predictability in what your investments and return of investments can be."
In 2014, the National Pharmaceutical Pricing Authority ( NPPA) had brought prices of over 100 non-scheduled drugs under price control invoking paragraph 19 of Drug Price Control Order.
Several industry bodies, including Indian Pharma Alliance ( IPA), had criticised the NPPA's move to cap prices of medicines not under the National List of Essential Medicines ( NLEM).
Currently, the government has increased the number of drugs under price control to over 800 formulations, from 628 earlier, bringing medicines used for treatment of diseases such as cancer,
Advertisement
Stressing on exports, which is a main area of focus, she said it was discussed on how to make "our SEZs more competitive and how do we really focus on the pharma sector, which has already got a global stature and really built greater scale, to make us very very strong and competitive."
(Image credits: indiatimes)
Advertisement
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- "To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance