PHARMA MANUFACTURING TECHNOLOGY UPGRADATION FUND OF Rs.500 CR. ON CARDS ALSO THE NEW BULK DRUG POLICY, MINISTRY OF CHEMICAL & FERTILIZERS

PHARMA MANUFACTURING TECHNOLOGY UPGRADATION FUND OF Rs.500 CR. ON CARDS ALSO THE NEW BULK DRUG POLICY, MINISTRY OF CHEMICAL & FERTILIZERS

PHARMA MANUFACTURING TECHNOLOGY UPGRADATION FUND OF Rs.500 CR. ON CARDS ALSO THE NEW BULK DRUG POLICY, MINISTRY OF CHEMICAL & FERTILIZERS

 

No.PR-64
July 24, 2015
New Delhi

 

PHARMA MANUFACTURING TECHNOLOGY UPGRADATION FUND OF Rs.500 CR. ON CARDS ALSO THE NEW BULK DRUG POLICY, MINISTRY OF CHEMICAL & FERTILIZERS
 

Secretary, Department of Pharmaceuticals, Ministry of Chemical & Fertilizers, Dr. V K Subburaj on Friday announced that the government would shortly put in place Pharma Manufacturing Technology Upgradation Fund worth Rs.500 crores on lines of TUFS in textile industry to enable domestic pharma companies, especially the SME segment to make quality drugs by availing of fiscal assistance from the proposed fund.
 

The Secretary while delivering his key note address at a National Conference on Pharma Exports : API Challenges under aegis of PHD Chamber of Commerce and Industry here today also disclosed that the government of the day would also bring out a API and bulk drug policy shortly to logically address slew of issues and concerns that grapple the pharma manufacturers from all its sections and segments.
 

“Necessary consultations have already taken place with the concerned stakeholders in the government as well as industry and only approval related formalities remain to be fulfilled before the final documents relating to these two policies are put in public domain”, said the Secretary.
 

Elaborating on the pharma fund, the Secretary explained its necessity by stating that only 14-15 per cent of domestic pharma manufacturers out of close to 10,000 pharma manufacturers are making quality drugs of world standards due to non availability of finances.
 

The government has taken note of this argument and now in the final stages of preparing the Pharma Upgradation Fund so that availability of adequate finances are made to support innovations in the pharmaceutical sector to enable the indigenous players make quality drugs for their acceptance in the overseas market.
 

Later on, giving the inaugural address, the Minister of State, Ministry of Chemicals and Fertilizers, Mr. Hansraj Gangaram Ahir announced that industry would be consulted on pricing with NPPA.  This announcement will give relief to the industry.  He also added that the government is going to implement key points from Dr. Katoch Committee’s report.
 

The minister also indicated that in the proposed policy, the issue of API imports arising from China would be more than adequately address and all the legitimate issues and concerns of the pharmaceutical industry would be taken care of to the best of its satisfaction.
 

The Conference was presided over by the President, PHD Chamber Mr. Alok B. Shriram in which among others who represented industry and overseas segment comprised High Commissioner of Sri Lanka, Prof. Sudharshan Seneviratne; Charge D’ Affairs, Embassy of Tunisia, Mr. Boujdaria Jamel; Chairman, Health Committee, PHD Chamber, Mr. Nishant V Berlia; including the Secretary General of the Chamber Mr. Saurabh Sanyal.
 

ENDS

Koteshwar Prasad Dobhal
Consultant (PR)