IDMA seeks drug price decontrol

New Delhi, January 23: | Updated: Jan 24 2002, 05:30am hrs
Indian Drug Manufacturers Association (IDMA) has demanded scrapping of control on overall profitability of pharma companies, raising of maximum allowable post-manufacturing expense and drug price decontrol in a phased manner.

IDMA has suggested that price control should apply to single ingredient formulations with a turnover of Rs 50 crore and a company with a market share of more than 50 per cent and the number of formulators should be less than 10 for the drug.

IDMA said in the wake of the 2005 deadline approaching fast, there is a dire need for a drug policy so that the pharma companies can decide about their future investments.