No plans to re-enter domestic formulations in current fiscal: Piramal V-C

Citing the price control regime as being detrimental to the pharmaceutical industry, Piramal Enterprises Vice-Chairperson Swati Piramal on Saturday said the group was not considering re-entry into the domestic formulations market this financial year. 

Last year, Ajay Piramal, chairman of Piramal Enterprises, had indicated that the firm was exploring a possible re-entry into the domestic formulations market, which it had exited after selling the business to Abbott for $3.7 billion in 2010.

"We would love to see a policy change. We saw an increase in price control from 77 products to over 200 products, which had not happened before we