The domestic pharma industry, which is already battling the US FDA, has now to contend with regulatory challenges at home.
Mitesh Shah has made a quiet fortune over the last decade. As a chemist in Thane’s sprawling Hiranandani Estate, he has a steady clientele of patients and doctors that keep his cash registers ringing. Three years ago, he spent a steep â¹2 crore in buying a large apartment in the township. Even with new chemists entering the area over time, his business has remained largely unaffected.
On a good day, Shah gets about 500 prescriptions from doctors and based on these, he dispenses medicines to his patients. With his experience and his D.Pharma degree, it is a job he has mastered —from the intricacies of each drug to being able to substitute one for another when the stocks run out.
In the third week of April, 30-year-old Mitesh was slightly surprised to see a prescription from a doctor without a brand name. Instead, it made a mention of just the generic name (or the chemical name of the drug) with the suggested brand in brackets. “It was the first time this had ever happened and it was for a diabetes drug. Since then, we have had about ten such prescriptions each day,” he says. This happened just about a week after Prime Minister Narendra Modi said that doctors will not be allowed to prescribe a brand, but only a generic drug.
This could possibly be a huge concern since the brands that pharma companies have built for many years could potentially count for nothing. At a tidy â¹100,000 crore, of the branded generics market with handsome profits, was a great place to be in for the biggies. Suddenly, that equation has changed.
Shah is not too thrilled either. “We cannot replace the doctor in any form. While margins may increase and companies will woo us, we will be in trouble if we prescribe a wrong medicine,” he says.
UNEASY IMPLICATIONS
ãã®èšäºã¯ Outlook Business ã® May 26 2017 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã8,500 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã ?  ãµã€ã³ã€ã³
ãã®èšäºã¯ Outlook Business ã® May 26 2017 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã8,500 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã? ãµã€ã³ã€ã³
'TECH, GOVERNMENT SUPPORT DRIVING GROWTH IN INDIA'S EXPORTS'
As overall exports in India witnessed a rise over the previous year, Akshay Ghulati, co-founder of Strategy and Global Expansion at Shiprocket Global, talks about five drivers of booming trade in India
IN THE RIGHT ENSEMBLE
Manish Kapoor MD and CEO of global clothing brand Pepe Jeans London, finds happiness in spending time with his family and bonding with them over leisure trips, Formula One races, cricket matches and cooking
GREEN GLOBETROTTING
Amid growing awareness about sustainable tourism, more people are hoping to reduce their carbon footprint. Besides benefitting the planet, sustainable tourism also presents the industry with the opportunity to grow responsibly
LOOPM ALTERNATIVES: ADDING A NEW AND LASTING DIMENSION TO PRESERVING FOOD
LoopFresh, an Indian innovation promises to transform the way perishables are stored on our supermarket shelves to retain their freshness.
PLANET VS PLASTIC OR PLASTIC VS SUBSTITUTES?
The theme of Earth Day 2024 was Planet vs Plastic, but plastic industry stakeholders are armed with studies to find faults with its alternatives
WELSPUN LIVING LIMITED: MAKING STRIDES TOWARDS GREENER FUTURE
Striving to advance systematically on the path of sustainable development, Welspun, a global leader in home solutions, is making a mark with its holistic Environmental, Social, and Governance (ESG) approach towards well-being of all the stakeholders
PROMOTING BIOFUELS FOR SUSTAINABLE ENERGY SUPPLY
Biofuels offer a viable solution to reducing dependence on imported fossil fuel while providing cleaner energy, states Kishan Karunakaran, CEO of Buyofuel. In an interview he speaks about how agro-waste and even plastics and tyres can be utilised for producing biofuels, thus supporting a circular economy.
A Ready Reckoner for Climate Justice
In Climate Change: The Policy, Law, and Practice, Jatinder Cheema presents a comprehensive exploration of the multifaceted challenges posed by climate change and the corresponding policy, legal and practical responses needed to address this global crisis effectively
TETRA PAK'S AMBITION TO LEAD THE SUSTAINABILITY TRANSFORMATION
Tetra Pak has set 2030 net zero emission goals for itself and 2050 net Zero emission goals for its supply chain. Juhi Gupta, Director Sustainability Tetra Pak, South Asia, in an interview shares how this is being achieved. Excerpts:
COOLING NO MORE A LUXURY, BUT A NECESSITY
With the rise in demand of air conditioners due to heat stress, sustainable air conditioning is the way forward to bring relief to people as well as manage emissions