NITI Ayog on Public Debt Management: NITI Aayog has made strong case for setting up independent Debt Management Office for better servicing of loans that will lead to substantial reduction in India’s interest payment. At present, government debt, including market borrowing, is managed by Reserve Bank of India (RBI). Setting up independent Debt Management Office …
Context: The global sales of the world’s best-selling prescription drug, Humira, continue to grow even after the expiry of the patent over its main ingredient, adalimumab, a biologic used for the treatment of arthritis. By 2020, AbbVie Inc, makers of Humira, expects its sales to touch $21 billion — a figure that will surpass India’s …
Essential medicines Essential medicines are those that satisfy the priority health care needs of the country’s population. They are listed with reference to the levels of healthcare namely primary, secondary and tertiary. They are generally based on the country’s disease burden, priority health concerns, affordability concerns etc. In India, National List of Essential Medicines (NLEM) …
Condition of the Indian Pharmaceutical Sector: The Indian pharmaceutical industry is a world leader in bringing generic drugs to the market in a cost-effective way Additionally, many Western pharmaceutical companies have established small-molecule development and manufacturing in India More recently, Indian pharma companies have demonstrated the capability to develop biosimilars for global healthcare markets These …
India and the future of life sciences innovation Read More »
Context: India is considered a preferred destination for cardiology, orthopaedics, transplant and ophthalmology in curative care, it also enjoys high credibility in wellness and prevention and alternative medicine. A rare combination of advanced facilities, skilled doctors, and low cost of treatment has made India a popular hub of medical tourism, attracting a large number of …
Context: Government implemented price controls on coronary stents and knee replacement implants in India that have slashed prices by as much as 85 per cent and 70 per cent, respectively. Government has signalled that price caps for additional life-saving and life-improving medical devices may be forthcoming. Opposition by US Companies: American companies producing medical devices …
Context: The recent tension between India and China has prompted the government here to think of measures to reduce its dependence on China for pharmaceutical products. The health ministry along with drug regulators is planning to take a series of measures to limit reliance on China as well as tighten the regulatory checks and balances …
Context: Issues which are halting the progress of Pharmaceutical Sector in India Biggest Challenge Lack of sufficient funding and inadequate allocations by the government At 0.83% of GDP, India is among the countries with the lowest investment in scientific research An industry study of 2016 It examined the extent to which public investment, IPRs and drug pricing …
Key objective: to make essential drugs accessible at affordable prices to common people while providing a long-term stable policy environment for the pharmaceutical sector. Cap on “unreasonable trade margins”: The government is planning to fix the trade margins on drugs. Move is aimed to bring down the costs and create a level-playing field for the pharma …
Mission is aimed at accelerating research for early development of bio-pharmaceuticals. Key points: The mission would attract an investment of Rs 1,500 crore from the central government over a period of five years. Half of the funding would be funded through a loan from World Bank. The mission will be implemented by Biotechnology Industry Research Assistance Council (BIRAC), a …