He said that the government is taking steps to make the firms more innovative.
"All companies in pharma industry must ensure that they must invest good part of their topline in R&D. Because if you do not have pipeline of new drug delivery or new molecules, you will always have problem down the line," he said at a conclave here.
He also asked the companies to make a proper balance between making profits and protecting consumer interests.
"We must have a trade-off. We cannot take only one of that issue for granted ....
"We will make sure that the industry grows and at the same time the consumer interest is also adequately protected," he added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)