Twitter

Facebook

Youtube

Pintrest

RSS

Hindi News | Samay | UP/Uttarakhand | MP/Chhattisgarh | Bihar/Jharkhand | Rajasthan | Aalami Samay
Health sector: Corporate America meets FM
Last Updated : 15 Feb 2013 01:58:44 PM IST
Corporate America meets FM
Corporate America meets FM
 

Corporate America has sought major reforms in India’s health sector including foreign direct investment and global collaboration in life sciences.

 

In a pre-budget memorandum, submitted to the Union Finance Minister, P Chidambaram, the US India Business Council (USIBC) said it was concerned over the several recent policy initiatives of the Indian Government in this regard.

"Over the past year, Indian Government has issued several policies, decisions, and draft rules related to merger activity, price controls on patent medicines, clinical trials, and intellectual property, that if implemented, would severely limit FDI in the pharmaceutical, medical device, and biotechnology sectors.

"FDI and global collaboration in life sciences is essential for a thriving, robust Indian healthcare sector," USIBC said in its pre-budget memorandum to Chidambaram.

USIBC said the industry has several serious concerns regarding intellectual property.

Over the past year, at least four patents for drugs varying from asthma and hepatitis C to cancer treatments were revoked along with the compulsory license (CL) that was issued in March.

"This trend sends concerns to investors not only in the life sciences sector but other innovative industries as well," it said, but noted that recent efforts in support of the Draft National Intellectual Policy are a step in the right direction.

Welcoming the Indian Government for agreeing to support a market-based formula for the National Pharmaceutical Pricing Policy, USIBC in its memorandum urged New Delhi to work with all stakeholders to provide a predictable and transparent framework for any price controls placed on medical devices.

"We also request support for a separate regulatory framework for medical devices and greater industry dialogue with regard to the regulation of such devices," the memorandum said.

It urged the Finance Minister to dedicate significant resources to increase healthcare access.

"Realising that healthcare is just as much about the availability of doctors and hospitals and health insurance as much as it is about affordable medicines and access to cutting edge technology, we encourage the GOI to achieve its goal of contributing 2.5 percent of GDP to healthcare, which was outlined in the 12th Five Year Plan," USIBC said.

"We believe expansion of price controls or greater use of compulsory licenses is detrimental to the improvement of access to healthcare in India; rather, the Government should work with industry to advance comprehensive reforms and sustainable solutions to address India's healthcare concerns," USIBC said.

In its pre-budget memorandum, it also sought reforms in the legal services.

"USIBC urges the opening of India's legal services sector as well as continuing to allow foreign lawyers to "fly-in and fly-out" temporarily to advise on issues of non-Indian law," the memorandum said.

"We also would encourage the GOI to allow Indian lawyers to advertise, at a minimum through websites, that would provide information on their law firms, detail the skills of their lawyers, and highlight their practice areas.

Permitting Indian lawyers to create and maintain websites makes them competitive internationally," it said.
 


Post Your Comment (0 posted):
Post your comment Post Your Comments
Your name :
Your e-mail address :
Your website :
Add your comments :
Please enter the code you see in the image:
Code

super luxury car maker Rolls-Royce is gearing up to tap the country's Billionaires with ne

Coming-of-age drama 'Boyhood' won three of the biggest awards at the BAFTA 2015 but it was

Sunny Leone is seen scorching the screen in the first look of Leela with her bold acts.

Samsung unveiled the Galaxy S6 and Galaxy S6 Edge at Mobile World Congress in Barcelona, S

Reality TV star Kim Kardashian reportedly wants Beyonce to buy a house in her gated commun

Automaker Renault India today said it will roll-out a multi-purpose vehicle 'Lodgy' and a

Pharma tycoon Dilip Shanghvi surpassed Mukesh Ambani as the world's richest Indian with a

When Holi is round the corner, can anyone forget all-time hit Bollywood songs?

In an interim order, the Bombay High Court has restrained the city police from arresting o

Good news for the fans’ of Salman Khan and Deepika Padukone.

Reality TV star Kim Kardashian has posed nude for the upcoming 10th season of 'Keeping Up

Bollywood superstar Akshay Kumar and Actress cum Entrepreneur Shilpa Shetty Kundra have pa

Kashmir witnessed season's heaviest snowfall as the arterial Jammu-Srinagar National Highw

Mexican actress Stephanie Sigman has joined Monica Bellucci and Lea Seydoux as the new bon

Luxury carmaker Mercedes-Benz launched the all-new compact B-Class in both petrol and dies

Bollywood actor Poonam Pandey, gets relief as a local court in Bengaluru quashed a case pe

Automaker Renault India launched the new generation Duster priced at Rs 8.30 lakh (Delhi e

Now Bollywood A-list actors are competing to get nude on-screen.

The 2015 edition of the International Indian Film Academy Awards is set to enthrall Bollyw

India defeated Zimbabwe by six wickets chasing 288 runs target in World Cup Match.

See Bollywood stars when they were drunk, their behaviour in public. Their behaviour can p

The sight of driverless Delhi Metro trains whizzing past stations, crowded and deserted, i

Running out of battery? Yell at your phone to charge it!


Samay Live

Samay Live

 

Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live

10.10.70.24