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Dr Reddy's Laboratories on Monday said partnerships between policymakers and industry are vital to build a future-ready healthcare system that serves millions. Satish Reddy, the chairman of the Hyderabad-based drug major, joined industry leaders at the sixth Pre-Budget Consultation chaired by Union Finance Minister Nirmala Sitharaman in the national capital. He shared his perspective on the importance of risk-based innovation funding to strengthen India's pharmaceutical ecosystem and accelerate breakthroughs that improve patient access and affordability. "At Dr Reddy's, we believe that partnerships between policymakers and industry are vital to building a future-ready healthcare system that serves millions," Reddy said in a post shared by the drug firm on social networking platform LinkedIn.
Amid growing demand for stricter compliance with safety and quality control norms for medical products, the Centre is framing a law to strengthen the legal framework for drug quality testing and market surveillance, along with regulation of medical devices and cosmetics. One of the major reasons behind the drafting of the law is the repeated complaints and concerns flagged by health regulators across the globe, including the WHO, over serious quality lapses by Indian drug manufacturers. The draft of the 'Drugs, Medical Devices and Cosmetics Act 2025', which the government aims to introduce in the upcoming Winter session of Parliament, was presented by Drugs Controller General of India (DCGI) Dr Rajeev Raghuvanshi at a high-level meeting of the Union health ministry held on Tuesday, the sources said. The meeting was chaired by Union Health Minister J P Nadda. During the meeting, senior officials from the Drugs Controller General of India (DCGI) and the Central Drugs Standard Control