New pharma policy on the anvil in India
The New National Pharmaceutical Policy would soon be placed for consent before the Cabinet Ministers said Mr M K Azhagiri, Indian Minister of Chemicals & Fertilizers, at the conference on “Intellectual Property Rights: Challenges and Way Forward for the Pharmaceutical Industry”, organized by Confederation of Indian Industry (CII) held in Chennai (India) on December 15, 2010. Mr Azhagiri said the proposed new pharma policy would address key issues faced by the pharma companies, and also ensure availability of drugs at the right price, especially the life saving drugs.
Speaking on the Indian pharma sector, Mr Azhagiri said that the current pharma production in India is valued at $20 billion, of which 40 percent comes from exports. The Indian pharma companies have made remarkable achievements in the global arena, especially on pharma exports, he added. He also said that India ranks third in global pharma production, and is a major market for pharma and related products.
Mr Rajeev Ranjan, principal secretary, Industries Department, Government of Tamil Nadu (India), in his address said that innovation and research are key to drive the growth of the Indian pharma sector. Pharma companies should also take advantage of the Intellectual Property Rights (IPR) to sustain innovation and also enhance profits, he added.
Mr Ranjan said that Government of Tamil Nadu is strongly encouraging the filing of Patents, which is on a significant rise in the past few months. The Tamil Nadu Government also supports the MSMEs in the pharma sector in the areas of IPR and Patents, he added.
Mr K Raghavendra Rao, event chairman, chairman & managing director, Orchid Chemicals & Pharmaceuticals (India) in his address said pharma innovations are important in India to keep healthcare cost low .There is also a need to protect patents to encourage and incentivise innovations, he added.
Mr TT Ashok, deputy chairman, CII Southern Region & managing director, Taylor Rubber, India, in his welcome address said that importance of pharma is growing in India very fast. Pharma giants are making a lot of life saving drugs which are not only helping people in the country but also attracts people from other countries as healthcare is cheaper in India. He also highlighted various initiatives offered by the Tamil Nadu Technology Development & Promotion Centre of CII, in the areas of technology, research, IPR, for companies in Tamil Nadu.