PHD Chamber in association with Department of
Pharmaceuticals, Ministry of Chemicals
& Fertilizers, Government of India organized a seminar on 'Price
Regulations: A 360 Degree Overview on its Impact on Availability &
Accessibility today at PHD House, New Delhi.
Mr. Bhupendra
Singh, Chairman, NPPA, Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers, Government
of India was the Chief Guest at the inaugural session of the seminar. He said
“No Complaints about shortage of stents even on my whatsapp number which is
public and I congratulate the industry for ensuring smooth supplies.”
Mr. Singh further said that a comprehensive health policy
in conjunction with the Pharma Industry needs to be worked out in conjunction
with the Pharma Industry and expressed that higher govt spend on healthcare
delivery is desirable but it itself cannot solve the problem of affordable
healthcare for all.
He mentioned that NPPA also plays role in ensuring accessibility
by rationalizing the prices of the drugs in the market
Mr. Anil Khaitan, Senior Vice President, PHD Chamber on
this occasion said that IIM Ahmedabad has independently published a report
highlighting that firms may exit a category under regulation due to low profit
prospects and there was also a drop in R&D resulting in fewer new
introductions of generic drugs and there has been reduced competitions since
India expanded its list of priced-controlled medicines two years ago.
He added that many governments continue to intervene
through some form of price regulations in the pharmaceuticals market. While in
the US, the pharmaceuticals industry is highly unregulated, in Europe, the
governments are actively involved in price regulation. The main argument in
countries that favor price regulation is that neither the doctor nor the
patients takes decisions based on the costs incurred. As these governments
typically provide some form of universal healthcare, the government intervene
in an attempt to reduce the healthcare expenses incurred.As a result of strict
price regulation, pharmaceutical companies in the European Union attain lesser
profits and stock returns, and invest lower R&D amounts compared to their
US Counterparts as per Golec and Vernon 2010.
Mr. Nishant V. Berlia, Chairman, Health Committee, PHD
Chamber shared that the overall market share of priced-controlled medicines in
India has been declining across therapies, falling from 78% to 70% between 2007
and 2015 and after the price control order was expanded two years ago, the
sales volume of price controlled medicines had a compounded annual growth rate
of 5% compared with 8% for the same drugs prior to being added to the list in
2013.
The chamber also gave a copy of the Vision 2020 Document
on medical device to Mr. Bhupendra Singh, Chairman, NPPA, Department of
Pharmaceuticals, Ministry of Chemicals & Fertilizers, Government of India,
which was made by the chamber by getting all Pharma & Medical devices
associations together on a simple platform.
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