Union Minister for Chemicals & Fertilizers, Ram Vilas Paswan inaugurates India Chem 2004 in Mumbai
The union minister for chemicals and petrochemicals, Ram Vilas Paswan, has made an about turn on his previous stand on pharmaceutical pricing by announcing that the government would now look at the drug price control with a balanced view to take care of the industry as well as the public.
The minister, while talking to the media on the sidelines of the opening ceremony of India-Chem 2004 in Mumbai, said that he did not want a controlled regime for the pharmaceutical market. This is in contrast with his earlier stand on the drug price control that the span of Drug Price Control Order (DPCO) should be increased substantially as the pharmaceutical industry and the trade in India are currently enjoying exorbitant profit at present.
However, the minister said that they have not taken any decision on the same as the government is planning to constitute another committee to make recommendations in this regard. He also added that though the industry had promised to cut down the trade margins so that to keep the prices down, they have not done anything so far. "Any way the NPPA can take its own course of action to intervene in case as it finds that drug prices are going up," he added.
While inaugurating the two-day conference and exhibition in the city, Paswan said that in the field of R&D the government's goal was to make the country a global centre by making use of the intellectual capital, its competitive advantages and low R&D costs. Investments in R&D need to be increased to 10 per cent of sales turn over. This calls for stringer networking with government national labs and academia. And the country should have a sustained presence in drug discovery research and generate more pharmaceutical and chemical patents.
India-Chem 2004, which was inaugurated by the minister, attended by large number of dignitaries including Y K Mody, president, FICCI, HE Yasukini Enoki, Japanese ambassador in India, Richard R Goodmansion, CEO, Dupont USA, Masaoki, deputy CEO, Mitsubishi Chemicals, Nikhil R Meshwani, ex director, Reliance Industries and Pratyush Sinha, secretary, department of chemicals.