New ministry for pharma & medical devices soon

Besides ruling out any plans to do away with in drugs price control, the union Chemical and Fertilizers minister, Mr Ananth Kumar has revealed about a new ministry for pharma and medical device within a year

pharmamed

Union Minister of Chemical and Fertilizers, Mr Ananth Kumar has ruled out, doing away with the price control on essential and life savings drugs, asserting that the Modi government is pro-poor though assured that industry will continue to be consulted. He also promised creation of separate ministry for pharma and medical devices within a span of a year as also commited execution of Katoch Committee recommendations in next 100 days that are likely to transform the pharma sector. He also said that the inverted duty structure on pharma & medical devices will be taken up personally by himself with the Finance Minister based on PHD Chamber's representation on the issue

While inaugurating the 4th Annual Conference : PharmaMed 2015, organized by the PHD Chamber of Commerce and Industry on December 14, 2015, Mr. Kumar said, "the government will continue to control the regulated list of pharma products that currently number 603 though it might make revision in it to enable access, affordability and acceptability with quality, the pharma products to patients in far flung areas but will not loosen its control on essential and life savings pharma products in the interest of the common man".

"Nowhere in the world, regulations and control on such essential sectors are in vogue and India cannot be an exception. I urge industry and pharma manufacturers of generic drugs to increase access, affordability and acceptability of their products with focus on quality so that patients do not suffer shortages of such products", said the Minister asserting that in next 100 days, the much talked about Katoch Committee recommendations will be implemented with due approval of the cabinet if so required.

So far as the issue of new ministry, relating to pharma and medical devices is concerned, the government of the day would constitute it in next one year as preliminary exercises to this effect with all stakeholders including the Prime Minister's Office and the Prime Minister himself are on, informed the Minister.

On the issue of inverted duty structure on the pharma and medical devices sector, Mr. Kumar promised industry that he along with his Minister of State would shortly seek consultations with the Finance Minister to settle this issue so that necessary disclosures for it are incorporated in the forthcoming budget.

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