Economy

'Clean policy framework needed for pharma industry'

Our Bureau Hyderabad | Updated on January 15, 2018 Published on April 21, 2017

The current policy framework, including drug price control, is adversely impacting the pharmaceutical industry, according to K Satish Reddy, Chairman, Dr Reddy's Laboratories Ltd.

He was speaking at a national seminar on bulk drug and pharma industry organised by the Bulk Drug Manufacturers' Association-India (BDMA-I) to mark its Silver Jubilee year here on Friday.

"We need a clear policy framework that involves all stakeholders to ultimately serve the needs of a patent," he said.

Referring to price control, Reddy said the pharma industry, including his company, had produced many drugs which brought down the drug prices "significantly'' over the last 20 years.

"But one of our leading brands went for price cut twice in a year. If this continues, bottom line of industry will come under pressure," he said.

There were different ways to provide medicines to the poor which could be supported by the industry, Reddy said, adding that "arbitrary'' decisions in market were "harmful''.

"The overall pharma exports were declining and growth in domestic market was slowing down," Reddy said.

India was losing its domination in APIs (bulk drugs) to China in the recent years.

In his welcome remarks, M Jayant Tagore, National President, BDMA, said bulk drug and pharma industry was "eager" to collaborate with premier research labs in drug development as well as funding innovation to an extent.

Published on April 21, 2017
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