More Exemption to Pharma Companies for R&D (India)
This article was originally published in PharmAsia News
Executive Summary
Ram Vilas Paswan, India's Union Chemicals and Fertilizer Minister, announced that the government is committed to giving the country's pharmaceutical companies up to a 150 percent margin for research and development. Paswan hopes doing so will encourage drug-makers to further lower the prices on essential medications. At the same time, Paswan said the current price controls instituted by the country are not enough. He turned a deaf ear to the industry's argument that the prices for many drugs in India are much lower than most countries. According to Paswan, drugs must be less expensive in India because 80 percent of the country's population must pay for medications themselves. To further help the situation, the government is also planning to introduce health insurance for many of India's poorest citizens. (Click here for more