Union Minister of Chemical and Fertilizers rules out doing away with price control on essential and life saving drugs

New ministry for pharma and medical devices within a year

Ananth Kumar, Union Minister of Chemical and Fertilizers, ruled out doing away with the price control on essential and life saving drugs, asserting that the industry will continue to be consulted. Kumar was speaking at the 4th Annual Conference: PharmaMed 2015, organised by the PHD Chamber of Commerce and Industry in New Delhi.

Kumar promised the creation of separate ministry for pharma and medical devices within the  span of one year as also committed execution of Katoch Committee recommendations in next 100 days that are likely to transform the pharma sector. He also said that the inverted duty structure on pharma and medical devices will be taken up with the Ministry of Finance based on PHD Chamber’s representation on the issue.

Kumar said, “The government will continue to control the regulated list of pharma products that currently number 603 though it might make revision in it to enable access, affordability and acceptability with quality.”

On the issue of inverted duty structure on the pharma and medical devices sector, Kumar promised the industry that he along with his Minister of State would shortly seek consultations with the Ministry of Finance to settle this issue so that necessary disclosures for it are incorporated in the forthcoming budget.

Hansraj Gangaram Ahir, Minister of State of Chemicals and Fertizers, assured the industry that the government will make no intervention with pharma manufacturers, excepting urging them to make quality drugs as Indian generic drugs not only cater to domestic demands but also serve the export requirements for over 200 countries.

Dr VK Subburaj, Secretary, Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, said that all policy barriers that restrict the growth of pharma and medical devices industry are being removed with provisions in new bulk drug policy which would be put in place in next few months in consultation with PMO.

Anil Khaitan, Vice President, PHD Chamber, in his welcome remarks, demanded actions on policy front from all government bodies so that pharma manufacturing becomes an integral part of ‘Make in India’ project of the Prime Minister.

Nishant V Berlia, Chairman, Health Committee, PHD Chamber and Himanshu Baid, Co-Chairman, Health Committee, PHD Chamber demanded flexible policies from the government so that growth is grown in the pharma and medical devices sector.