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Generic Medicines
Sun Pharmaceutical Industries on Tuesday announced it has entered into an agreement with the US government to prioritise access to affordable medicines for American patients. As part of the agreement, signed during a ceremony at the White House, Mumbai-based Sun Pharma, India's largest drugmaker, will extend 'Most Favoured Nation' (MFN) pricing to state Medicaid programmes, the company said in a regulatory filing on Tuesday. The commitment to MFN pricing will also apply to Sun Pharma's future innovative medicine launches in the US market, the filing said. MFN pricing generally ensures that a buyer receives the lowest price available for a drug. The agreement, which was signed alongside several other pharmaceutical companies, recognises Sun Pharma's investment in the US by delaying Section 232 tariffs on its innovative pharmaceutical products for over two years. The company did not disclose other terms of the deal. "The United States is a key area of investment and expansion for Su
A Parliamentary panel has flagged that a substantial segment of cancer drugs are still beyond the ambit of current price control mechanisms and recommended measures to include the widest possible range of cancer drugs by expanding the scope of the Drugs Prices Control Order. In its 163rd report presented on Wednesday, the Committee on Petitions, Rajya Sabha, headed by Narain Dass Gupta stressed that regular and comprehensive market assessments should be instituted to monitor prevailing drug prices and availability trends. Though significant steps have been taken in recent years towards strengthening the regulatory framework for governing the pricing of cancer drugs and promote affordability, a substantial segment of such drugs still remain beyond the ambit of current price control mechanisms, it said. The Committee noted that with the notification of NLEM, 2022, the number of anti-cancer medicines under price control has increased from 40 (in 2011) to 63 (in 2022). However, a ...
Biocon Chairperson Kiran Mazumdar-Shaw on Thursday called for more investment in research and development to drive innovation and foster culture of intellectual property. She highlighted how the country, already the world's largest exporter of generics and a major player in vaccine production, can achieve greater value by nurturing innovation. Mazumdar-Shaw called for a shift in focus toward value creation through innovation. "India ranks 14th in terms of value in the global pharma landscape. We need to invest in R&D and foster a culture of intellectual property to capture greater value," she said. Addressing a session during the Global Bio-India 2024 event, she positioned the country as a future global leader in biosciences and innovation. Mazumdar-Shaw emphasized India's unique advantages in becoming a global bio-innovation hub, citing the nation's rich scientific talent, robust technological capabilities, and entrepreneurial drive. "Biology is not only the most exciting and ...
India's stand on intellectual property rights (IPRs) and pharma issues in proposed trade agreements balances innovation with public health needs, ensures availability of affordable medicines and promotes growth of generic medicine industry, a GTRI report said on Friday. Think tank Global Trade Research Initiative (GTRI) said that by opposing demands of developed nations on issues like 'data exclusivity' and 'patent linkage' in free trade agreements (FTAs), India ensures that generic drug manufacturers get greater market access and cost of life-saving medicines gets reduced significantly. "India's approach underscores a commitment to balancing innovation with public health needs, adopting a flexible interpretation of TRIPS to align with its developmental goals, and preventing the establishment of unfair monopolies, especially in the pharmaceutical sector," the GTRI paper said. It added that this stance reflects a broader effort to protect traditional knowledge and ensure the ...