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Sneha Gilada The pharma bigwigs, after the government recently imposed a cap on stent prices, are in for another rough ride as PM Modi seeks to make prescription of cheap generic drugs binding on doctors. Speaking at the inauguration ceremony of a charitable hospital in Surat on April 17, Narendra Modi vowed to take on the mantle of making healthcare affordable to the Indian middle class and poor. In his speech, he averred that the health policy was being revamped after a gap of 15 years. The last time it was updated was back in 2002. The new health policy lays special emphasis on the pricing of drugs included in the National List of Essential Medicines (NLEM), along with the timely revision of the list. "Price control ...

The Dollar Business Bureau Rating agency ICRA on Thursday said that the Indian pharmaceutical industry will witness moderation in growth due to slow down of business in the US with a decline in the volume of large size drugs going off patent, increasing competition and adoption of generics reaching a saturation level. Over the last 10 years, the Indian pharmaceutical companies have witnessed a strong growth driven largely by the US market. "However, the growth from the US market has been down to 15 percent in financial year 2015-16 and looking forward the momentum for growth is possibly to face more pressure," ICRA (Investment Information and Credit Rating Agency of India) said in a statement. The Indian drug companies will have an impact on ...

The Dollar Business Bureau The government on Thursday approved the FDI proposal of Mylan’s Luxembourg and the Netherlands units to invest up to $750 million in its Bangalore-based Mylan Laboratories Ltd. (MLL) through subscription of equity shares. “With this approval, FDI of $750 million will be received in the country. The production level of consumables and NLEM drugs and their supply to the domestic market at the time of induction of FDI, be maintained over the next five years at an absolute quantitative level,” Ministry of Finance said in a statement. The union cabinet chaired by the Prime Minister Narendra Modi, however, laid out some conditions and directed MLL to be transparent in terms of its operations, especially in transfer of technology ...

Jayarama Emani | The Dollar Business The Pharmaceutical Export Promotion Council of India (Pharmexcil), welcomed the move by The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Shri Narendra Modi, to approve two significant foreign investments (FIs) in the pharmaceutical sector - Aurobindo Pharma Ltd; and Glenmark Pharmaceutical Ltd. Speaking to The Dollar Business, Dr P V Appaji, Director General, Pharmexcil said, “The recent move by the Government augurs well for the domestic pharmaceutical companies as they can now augment funds from foreign investors to focus on the export market. Moreover, with the new development, the confidence of the Indian pharma manufacturers will be on a high as these investments show the continued confidence of international ...

The Dollar Business  “With NLEM (National List of Essential Medicine) 2015 and DPCO (Drug Price Control Order) 2016, more drugs are likely to come under price control but this will not affect the growth of the pharmaceutical industry. The growth trend will be much better as compared to the past,” said a highly placed source from the Organisation of Pharmaceutical Producers of India (OPPI). “In the past, the Pharmaceutical Industry was not well prepared to take the impact of NLEM 2011 and the subsequent DPCO 2013,” added the source. While NLEM is a list of medicines, prepared by the Ministry of Health and Family Welfare, which are essential in India, the DPCO is an order issued by the government under the essential commodities ...