Pharma Industry Promised Stability And Predictability Of the Policies And Pricing | SupportBiz

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Pharma Industry Promised Stability And Predictability Of the Policies And Pricing

Ananth Kumar also emphasized on indigenous manufacturing of bulk drugs.

New Delhi: Calling for a shift in policy and regulation in pharma sector, government today stressed on the need for pharma industry to make quality medicines available to public at affordable rates.

"There should be a policy shift, regulation shift and governance shift, there has to be a paradigm shift in the pharma sector," Fertiliser Minister Ananth Kumar said.

Speaking at an event organised by think-tank Research and Information System for Developing Countries (RIS), the minister said: "We expect three things from the industry -- availability, quality and affordability of medicines."

Stating that the new government also understood the concerns of the industry, Kumar said: "Naturally, they (industry) also expect the stability and predictability of the policies and pricing. I understand that (and) we are in transition."

There has been a political transition, there has to be a transition in every sector, he added. He also said that pharma is fragmented sector administered and regulated by various departments including pharma, health and industry and it has been conveyed during the presentations of different departments to Prime Minister Narendra Modi.

Kumar added that government is also aware about the bulk drugs import issue for which India is largely dependent on China and the government will address this issue. "Pharma is a very important and crucial sector, as we can say that healthy security is part of national security. So pharma is as important as defence and internal security. Therefore we need to address bulk drugs import issue," Kumar added.