New drugs controller for regulations in pharma industry
Mumbai, Sep 14 (UNI) Dr M Venkateswarlu, the newly appointed Drugs Controller General of India, today outlined the need for regulations to ensure growth for the industry.
Addressing the audience after inaugurating CII Pharma Summit 2006: India Pharma Inc - Competing Globally' here, he said the need is for more proactive policies. Also, the policies need to be transparent and practical so that even a layman can understand them.
Above all, regulations should be evolved by consensus of stakeholders and in harmony with global regulations.
Mr Venkateswarlu, who assumed the office early this month, stressed that the need is for regulatory authorities and industry stakeholders to interact and interface on a common platform facilitated by CII to debate, discuss and evolve a consensus on pending issues like clinical trials.
Commenting on the research activities undertaken by the industry, he said these activities were critical for growth.
He said the Indian companies need to go beyond cardiac and diabetes segments and address the lifestyle and old age-related diseases, which have great potential for growth.
Mr Venkateswarlu also released the CII-KPMG Study on 'India Pharma Inc - Competing Globally' on the occasion.
On fixing of the drugs prices, he said in order to compete in the global arena, the Indian pharma companies must offer something beyond the low-cost proposition. ''We must stop competing the way we are. There is a need to identify other areas, compete on quality, systems and superiority in order to convert 'Advantage India' into tangible benefits.'' In his presentation on 'India Pharma Inc - Challenges, Future Potential', Ranbaxy Laboratories Ltd's chief mentor and executive vice chairman of the board Dr Brian Tempest emphasised on the country's R&D advantages.
''India has reached a turning point and this is the time to capitalise on the window of opportunity that is available,'' he said. Providing a global perspective on the topic, John Morris, Global Chair Pharma, KPMG, United Kingdom, said with the Indian pharma companies being heard and seen on the global scale, India has a big sectoral opportunity to launch its growth advantage.
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