Union Minister for Chemicals and Fertilizers Ananth Kumar has said that his government is presently seeking in all earnest to bring in major changes in Drug Price Control Order (DPCO) and new pharmaceutical approach. It is imagined that these two moves could give a fillip to the sector’s development.
The government is expecting to come up with a new pharma policy which will bind together and synergize its different components such as DPCO, manufacturing, R&D, financing, quality control, drug control, price control and medicinal devices, he said.
Further, the government is also working to make a dedicated ministry of pharmaceuticals and medicinal devices. This is the point at when the government has declared landmark reforms during the Budget 2018 through Ayushman Bharat and National Health Protection Scheme where it requires add up to a commitment from the pharma and medical devices industry in the country.
The Minister said that it was critical for the country that the two sectors are represented to under a separate ministry. It would give the much necessary recognition of the two sectors. In such manner, significant changes in DPCO and a new pharmaceutical policy are expected to give the much necessary boost to the area.
The minister also said that the country needed a new ministry of Pharma and Medical Devices as different parts of the industry currently were under the ambit of different ministries, leading to fragmentation and lack of unity of purpose.
“Examining the demand of the industry, we are also going to undertake significant changes in the DPCO,” he stressed.
The worldwide pharma industry is developing at 5 percent and in India; the sector is registering a promising development of 15 percent for every annum.
“We do see every reason to bring in a change. The changes in pricing have stirred a hornet’s nest. The main objective is to make essential drugs available at reasonable prices to common masses while providing a long-term, stable policy environment for the pharmaceutical sector. It intends to make India adequately self-reliant in end-to-end indigenous drug manufacturing, while at the same time ensuring the world-class quality of drugs “, he stated.
The government currently views the sector being divided and there needs to be an integrated strategy to acquire cost-effective manufacturing to drive affordability of drugs. The need the hour is to ensure that medicines reach each individual and no one goes unattended.
With the unfolding of the Universal Health Coverage, the Namo Care is relied upon to demonstrate the way forward for inclusive growth.
The formation of a dedicated ministry for pharmaceuticals and medical devices could departments under one umbrella, he said.