Category — Pharmaceuticals
Keeping in mind the ‘Make in India’ initiative, India’s Federal government has decided to comprehensively review and revise the existing 76-year old drug laws on two important features: 1) to facilitate the ease of doing business, and 2) substantially enhancing the quality and efficacy of its products. The rewrite of the laws will take into account the regulation of biologics, regenerative medicines and clinical trials.
The Ministry of Health and Family Welfare has framed separate rules under the existing Act for regulating medical devices.The ministry is also working to bring about separate legislations for regulating medical devices and drugs and cosmetics.
A draft of the revised drugs law is expected to be ready in two months, top drug controller G.N. Singh told Reuters last week. “We thought it was better to revise the law than to put more bandages on it,” Singh said. He also mentioned that the government had requested regulators from the U.S. and Europe for input.
Meanwhile, the medical devices industry has welcomed the Cabinet decision. “AdvaMed appreciates the government of India’s efforts over the years to press forward with legislation that would create separate and appropriate regulations for medical devices,” said a statement issued by AdvaMed India, a forum of medical devices manufacturers.
“We view the withdrawal of the Drugs and Cosmetics (Amendment) Bill, 2013 as an opportunity to start fresh and consult with relevant stakeholders to draft new and globally harmonized legislation that would once and for all carve out distinct regulations for medical devices. This step is critical to the growth of the industry and — equally as important — to ensure that patients have access to innovative and lifesaving technologies,” added Advamed.
June 23, 2016 No Comments
Jannsen Pharmaceuticals, a part of New Jersey-based Johnson & Johnson Pharmaceutical Research and Development, has made available the drug Bedaquiline free to India for use in hospitals in the cities of Guwahati, Ahmedabad, Chennai, Mumbai, and New Delhi only on patients who meet certain criteria for multi drug-resistant tuberculosis.
June 20, 2016 No Comments
Mark Mobius, Executive Chairman, Templeton Emerging MarketsGroup, is positive on India and believes the Indian economy is on a strong footing. “I can see India growing at 10% in the next few years if reforms continue to kick in,” he said in an interview with Business Standard. “We have $2 billion plus investments in India and we want to increase it,” he added.
Excerpts from the interview below:
The investment sectors of interest in India: “Given the fact that the country is growing and with the on-going reforms, banking is the obvious selection to begin with. And some of the conglomerates, companies that are involved in a number of sectors and getting a wider exposure of the markets will be another area. We also like technology and pharmaceuticals. We have a mix of both public and private bank stocks in our India portfolio.”
Two years of Modi’s Government: “The emphasis of the Modi government on the low income segment of the population is very good. I believe it not just a populist move but is also a key element in making the Indian economy healthy because you are creating a whole new generation of consumers and people who are becoming more productive. The Modi government’s emphasis on empowerment rather than hand-outs is very good.”
U.S. Federal Reserve is expected to increase rates; trajectory down in India; FIIs pulling money out of Indian debt. How do you see things playing out?: “This trend will continue. As long as you continue the reforms of the financial system in India and make it more transparent and efficient then rates will come down. If you see a more efficient productive society with less restrictions, your inflation will come down and interest rates will fall. This should have been done a long time ago. The emphasis of the government on the less fortunate segments of the society is very critical. The fixed income side will see some impact.”
Whether GDP growth of 8% is possible in India: “It (8% growth) is quite possible. I can see India growing at 10% in the next few years if reforms continue to kick in. I believe the numbers are reasonably accurate, give or take half a per cent.”
June 6, 2016 No Comments
In January, at the World Economic Forum in Davos, Switzerland, nine companies in sectors ranging from automobile engineering to steel manufacturing were named as the finalists for the inaugural TIME India Awards that encompassed three categories—Best in Class Manufacturing, Manufacturing Innovator of the Year, and Young Maker of the Year.
On February 13, Norman Pearlstine, Chief Content Officer for TIME Inc., announced the winners at a ceremony in Mumbai at which Indian Prime Minister Narendra Modi was the guest of honor. The awards kicked off a week-long series of events to mark the Indian government’s “Make in India” initiative to boost the country’s manufacturing sector.
The Best in Class Manufacturing award was given to Tata Steel, while the Manufacturing Innovator of the Year award went to Hero MotoCorp, and the Young Maker of the Year award went to Yogesh and Rajesh Agarwal of Ajanta Pharma, reports TIME.
“The recipients of the first TIME India Awards are world-class companies that are making a real impact on the rapidly growing Indian economy,” said Pearlstine. “We are pleased to recognize them for their efforts during Make in India Week.”
February 13, 2016 No Comments
Emcure Pharmaceuticals, a drug maker based in Pune in the western state of Maharashtra, has acquired Canada‘s International Pharmaceutical Generics Ltd. and its marketing arm Marcan Pharmaceuticals. Marcan Pharma has over 60 approved products mainly available from McKesson and Kohl & Frisch, among other wholesalers, reports Economic Times.
Emcure recently estimated its annual global sales at over $670 million having widened its base from contract manufacturing. The company has a strong presence in India, U.S., and European markets.
Emcure’s entry into Canada is similar to the strategy it had adopted during the acquisition of U.S.-based Heritage Pharmaceuticals in 2011. Emcure’s support to Heritage accelerated its U.S. sales for FY 2016 to $265 million. Industry experts say that Canada could be attractive for Emcure, although there could be challenges as the Canadian government implements a reference pricing system.
January 31, 2016 No Comments