Drug price Control adversely impacting Pharma Industry: K Satish Reddy

HYDERABAD, APRIL 21: A national seminar on bulk drug and pharma industry was organised by the Bulk Drug Manufacturers Association-India (BDMA-I) to mark its Silver Jubilee year in Hyderabad.

M Jayant Tagore, National President, BDMA welcomed the delegates and said bulk drug and pharma industry was "eager" to collaborate with premier research labs in drug development as well as funding innovation to an extent.

Speaking on the occasion was K. Satish Reddy, Chairman, Dr Reddy's Laboratories Ltd who provided highlighted that the current policy framework including drug price control is adversely effecting the pharmaceutical industry. "We need a clear policy framework that involves all stakeholders to ultimately serve the needs of a patient," he said

He said that his company and other constituent of pharma industry had produced many drugs which brought down the drug prices "significantly'' over the last 20 years reports The

Hindu.

"But one of our leading brands went for price cut twice in a year. If this continues, bottom line of industry will come under pressure," he said.

He re-iterated that there were many ways to provide medicines to the poor which drug industry was willing to support but arbitrary decisions in market were harmful.

"Moreover, The overall pharma exports were declining and growth in domestic market was slowing down," Reddy said.

Therefore there was an urgent need to formulate a clean policy framework for Pharma industry he stressed.