Economic Survey calls for decontrol of drug prices

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Posted: Thursday, Jul 02, 2009 at 1645 hrs IST
Updated: Thursday, Jul 02, 2009 at 1645 hrs IST

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New Delhi: The Economic Survey has called for decontrolling of drug prices and limiting the checks only to essential drugs, which have less than five producers.

"Drug price control should be limited to essential drugs in which there are less than five producers. All others should be decontrolled," the pre-Budget Survey tabled in Parliament said.

The previous Government had drafted a National Pharmaceutical Policy that aimed at increasing the national list of essential medicines to 354 from the current 74.

The drug industry had opposed the move saying it would kill the innovation and the matter was referred to Group of Minister (GoM), but the policy is yet to see the day light.

The survey meanwhile has lauded the country's pharma industry and said it is taking leaping strides in innovative drug discovery with clinical trials underway in 34 molecules.

"The Indian pharma industry is taking leaping strides in innovative drug discovery with clinical trials underway in 34 molecules. Consequently, the Indian drug discovery market has grown from 470 million dollars in 2005 to 800 million dollars in 2007," the survey added.

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