Indian Ministry of Health sets up taskforce to address issues of pharma industry

India’s Union Ministry Health has established a taskforce to address issues facing the country’s pharmaceutical industry and evolve a long-term strategy for the sector, reports the local Business Standard newspaper, particularly with respect to the takeover of domestic drugmakers by multinational companies. Measures to tackle the problem of spurious drugs will also be a focus of the taskforce.

The 12-member taskforce will be drawn from the National Pharmaceutical Pricing Authority, Department of Industry Policy and Promotion, Drugs Controller General of India and pharma industry associations. Secretary of Health Research, V M Katoch, will chair the committee. The taskforce is required to submit its report to the government within three months.

The Health Ministry advocated doing away with the automatic 100% FDI approval route for the pharmaceutical industry. Foreign investment should be allowed in the sector through the FIPB (Foreign Investment Promotion Board) route, it argued, the newspaper notes.