MNCs gaining control on Indian drug marketAugust 4th, 2010 - 9:32 pm ICT by IANS
New Delhi, Aug 4 (IANS) The parliamentary standing committee on health has asked the government to pay attention to the selling out of major Indian Pharma companies to multinationals, whose increasing hold over the drug market it says will make essential medicines costlier.
The committee in its report presented to the Rajya Sabha Wednesday noted that a large number of pharma companies have sold majority of their shares to multinational companies.
“Promoters of some Indian pharma companies like Piramal Healthcare, Ranbaxy, Shantha Biotech and Dabur Pharma have already sold their controlling shares to US, Japanese and German MNCs,” said the report.
It asked the government to ensure that major Indian pharma companies remain in Indian hands.
“The committee would appreciate if the ministry of health and family welfare takes up the issue with the ministry of chemical and fertilizers without any delay and come up with policy option to ensure that major Indian pharma companies are in Indian hands,” it said.
Pointing out that 61 drugs worth over $80 billion are going off patent between 2011 and 2013 making it possible for domestic pharma companies to produce cheaper version of the drug, the committee expressed concern over the increasing hold of MNCs.
“These developments would result in MNCs gaining market supremacy and essential medicines are bound to be costlier,” it added.
According to the health ministry, India is the third largest producer of generic drugs in the world and exports medicines to nearly 156 countries.
- Regulate foreign investment for cheaper medicines: Azad - Nov 01, 2010
- Foreign takeover of Indian drug-makers leaves ministry worried - Aug 04, 2011
- Foreign investment in pharma to face competition check - Oct 11, 2011
- Competition check for FDI in pharma will help consumers: CUTS - Oct 11, 2011
- Ranbaxy ordered to improve India, US plants - Jan 26, 2012
- Ranbaxy settles issue with US health regulator - Dec 21, 2011
- Ranbaxy launches 'indigenous' malaria drug - Apr 25, 2012
- Piramal, Baxter settle patent issue - Nov 01, 2011
- Ranbaxy's South African arm bags $133 million order - Dec 20, 2010
- India, China making inroads in biotech drugs: NYT - Sep 19, 2011
- Daiichi eyes Ranbaxy for expanding in Africa, Latin America - Mar 12, 2010
- Task force to look into pharma industry's problems: Azad - Sep 04, 2010
- Ranbaxy, Russian region sign healthcare pact - Jan 31, 2011
- Ranbaxy to launch anti-diabetic drug Actos by 2012 - Mar 15, 2010
- India clears 22 FDI proposals worth $112.5 million - Apr 20, 2012
Tags: dabur pharma, fertilizers, generic drugs, health ministry, India, medicines, ministry of health, ministry of health and family welfare, multinational companies, multinationals, New Delhi, parliamentary standing committee, patent, pharma companies, policy option, promoters, rajya sabha, ranbaxy, standing committee on health