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The control of drug prices, envisaged under the proposed ‘national pharmaceuticals policy' will “de-value the pharma sector,” says Ms Kiran Mazumdar Shaw, Chairman and Managing Director of Biocon Ltd.
Expressing hope that the Government does not go ahead with the policy and describing the proposed measure as a “retrograde step”, Ms Shaw said that India ought to get out of price controls.
Past experience has taught us that many “essential drugs just stop getting manufactured” when there is price control, said Ms Shaw, on the sidelines of the TieCON Chennai 2011, the annual conference of The Indus Entrepreneurs – a global network of entrepreneurs.
“There are enough bulk purchasing and tendering mechanisms that will keep prices down. Government should rather spell out a healthcare Bill to ensure that Indians have healthcare coverage.
“Currently it is a self-pay market. There is a realisation we need a national healthcare system and we are coming out with a national healthcare bill, but we need to do it fast.”
On Cyrus Mistry
Commenting on Mr Ratan Tata's successor, Mr Cyrus Mistry, Ms Shaw said: “Mr Mistry comes with such good credentials and impeccable pedigree.
“I don't know Mr Mistry personally, but I'm sure the Tatas must have made some thorough process to come to this decision.
“I am sure he will more than live up to the expectations of the Tatas, the market and business environment. It will be a daunting task but he is a young man; he has a long innings ahead of him.”
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