Pharma mfg TUF of Rs 500 cr, new bulk drug policy on cards: Ministry of Chemical & Fertilizers
Updated: Jul 27, 2015 12:07:14pm
New Delhi, July 27 (KNN) The government would shortly put in place Pharma Manufacturing Technology Upgradation Fund worth Rs 500 crores on lines of TUFS in textile industry to enable domestic pharma companies, especially the SME segment to make quality drugs by availing of fiscal assistance from the proposed fund, Secretary, Department of Pharmaceuticals, Ministry of Chemical & Fertilizers, V K Subburaj has said.
The Secretary while delivering his key note address at a National Conference on Pharma Exports: API Challenges under aegis of PHD Chamber of Commerce and Industry here on Friday also disclosed that the government of the day would also bring out a API and bulk drug policy shortly to logically address slew of issues and concerns that grapple the pharma manufacturers from all its sections and segments.
“Necessary consultations have already taken place with the concerned stakeholders in the government as well as industry and only approval related formalities remain to be fulfilled before the final documents relating to these two policies are put in public domain”, said the Secretary.
Elaborating on the pharma fund, the Secretary explained its necessity by stating that only 14-15 per cent of domestic pharma manufacturers out of close to 10,000 pharma manufacturers are making quality drugs of world standards due to non-availability of finances.
The government has taken note of this argument and now in the final stages of preparing the Pharma Upgradation Fund so that availability of adequate finances are made to support innovations in the pharmaceutical sector to enable the indigenous players make quality drugs for their acceptance in the overseas market.
Minister of State, Ministry of Chemicals and Fertilizers, Hansraj Gangaram Ahir announced that industry would be consulted on pricing with NPPA. This announcement will give relief to the industry. He also added that the government is going to implement key points from Katoch Committee’s report.
The minister also indicated that in the proposed policy, the issue of API imports arising from China would be more than adequately address and all the legitimate issues and concerns of the pharmaceutical industry would be taken care of to the best of its satisfaction. (KNN Bureau)
The Secretary while delivering his key note address at a National Conference on Pharma Exports: API Challenges under aegis of PHD Chamber of Commerce and Industry here on Friday also disclosed that the government of the day would also bring out a API and bulk drug policy shortly to logically address slew of issues and concerns that grapple the pharma manufacturers from all its sections and segments.
“Necessary consultations have already taken place with the concerned stakeholders in the government as well as industry and only approval related formalities remain to be fulfilled before the final documents relating to these two policies are put in public domain”, said the Secretary.
Elaborating on the pharma fund, the Secretary explained its necessity by stating that only 14-15 per cent of domestic pharma manufacturers out of close to 10,000 pharma manufacturers are making quality drugs of world standards due to non-availability of finances.
The government has taken note of this argument and now in the final stages of preparing the Pharma Upgradation Fund so that availability of adequate finances are made to support innovations in the pharmaceutical sector to enable the indigenous players make quality drugs for their acceptance in the overseas market.
Minister of State, Ministry of Chemicals and Fertilizers, Hansraj Gangaram Ahir announced that industry would be consulted on pricing with NPPA. This announcement will give relief to the industry. He also added that the government is going to implement key points from Katoch Committee’s report.
The minister also indicated that in the proposed policy, the issue of API imports arising from China would be more than adequately address and all the legitimate issues and concerns of the pharmaceutical industry would be taken care of to the best of its satisfaction. (KNN Bureau)
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