In a move that would prevent MNCs such as GlaxoSmithKline (GSK), Eli Lilly, Roche and Pfizer from selling their drugs at a huge premium in India, the government may soon finalise norms for monitoring prices of costly imported patented medicines for diseases such as diabetes, arthritis, obesity, cancer and heart diseases.
In a move to bring expensive medical devices such as stents, catheters, orthopaedic implants and heart valves under the price negotiation, the government has asked the National Pharmaceutical Pricing Authority (NPPA) to collect data on price, supply and availability of medical devices in the country.
Considering the growth of the Indian pharma industry, the government has finally issued a notification for setting up a separate department of pharmaceuticals. The notification was issued on July 1.
Amid tough price regulation and hectic discussions to finalise a new drug pricing policy by the department of chemicals and petrochemicals, the government has decided to carve out a new department of pharmaceuticals from it. The proposed new department will function as a new entity under the ministry of chemicals and fertilizers along with the other two departments governing fertilizers and chemicals and petrochemicals.
Sixteen months after it was set up, an inter-ministerial group is set to finalise a new pharma policy for the country.
