New Delhi, May 8 (KNN) Top officials of India are holding talks with their UAE counterparts to find a solution for pricing norms in the Gulf nation that can impede with the exports of Indian generic drugs and vaccine, reported Mint. 

Two people aware of the development told the newspaper that high-level talks are being held between the two countries.

The UAE along with several high- and middle-income Gulf and European countries use what’s called external reference pricing (ERP) to regulate pharmaceutical prices. 

Under this policy makers specify a basket of countries whose prices they use to inform the price of medical supplies in the country, reported Mint. 

In the UAE profit margins for drugs are fixed, as per trade experts. 

It means wholesalers or distributors are not allowed to offer bonuses or discounts to pharmacies, leaving them with no incentive to sell low-cost Indian generics.  (KNN Bureau)