Whilst the move to market-based pricing is positive, the Government must focus on the real issue which is affordability and access for all medicines in India. We already have the lowest prices in the world for generics. Since the Government has already constituted a committee to regulate patented medicines, the government must quickly put in place a mechanism to address the more important point — affordability of patented/monopoly products. This could be either by way of reference pricing or compulsory licensing in return for reasonable royalties. The Government should join hands with the industry to put health of the nation as a top policy priority. This means that the Government must immediately overhaul the current new drug approval mechanism and make it more pragmatic and relevant to India’s health needs. This will also restore the confidence of all stakeholders. Industry is willing to invest in innovation and manufacturing to improve patients’ lives if the government provides the support and incentives to do so. Together we can build a pharma industry that is the envy of the world.
– Subhanu Saxena, Chief Executive Officer, Cipla
