Govt plans mini-labs at ports, airports to monitor drug quality
The Dollar Business Bureau The government has announced it will soon set up mini drug-testing laboratories at ports and airports to check quality and authenticity of imported drugs. The Health and Family Welfare Ministry has given nod to setting up mini-labs at ports and airports to monitor drugs that are imported into the country. Minister of State for Civil Aviation Jayant Sinha said in a written reply to the Lok Sabha that the decision has been taken to prevent illegal and substandard drug and strengthen the country’s drug regulatory structures. "Necessary sanction has been issued by the Ministry of Health and Family Welfare to set up these labs," Sinha said. He was responding to a question on whether the government would set up six small ...
Generic drug market to cross $27.9 billion by 2020: study
The Dollar Business Bureau India’s generic drug market is expected to cross $27.9 billion and would account for 85% share in the domestic drug market by 2020, according to a study undertaken by ASSOCHAM and RNCOS. The current generic market size is $13.1 billion and is growing at a CAGR of about 16.3%, primarily due to approval granted by the USFDA makers and 21 drugs patent losing licenses by 2019, the study said. “Generic drugs account for 75% of the domestic pharmaceutical market by value. Drugs for cholesterol control, pain management, anticoagulant, respiratory, liver disorders, depression and lipid regulators are highly prevalent in the global market,” said the Associated Chambers of Commerce and Industry of India (ASSOCHAM) and RNCOS. The study was conducted on ‘Generic ...
