‘Pharma sector’s success under appreciated story’

Hyderabad February 10, 2014: – Disproportionate attention is being given to the regulatory scrutiny of the US Food and Drug Administration (USFDA) on Indian drug-makers, according to G V Prasad, Chairman, Dr Reddy’s Laboratories Ltd.

Responding to queries at a press conference in connection with BioAsia 2014 here, Prasad said the recent surge in regulatory restrictions on pharmaceutical companies was nothing but a part of the growing-up phenomena of the Indian pharma industry.

“The scrutiny levels are evolving as the volume of exports from the country is increasing. Relative to global scenario we are not out of place,” he said adding that the multinational companies such as Teva had also faced some issues.

On the state of the pharma industry, Prasad said the contribution of industry to promotion of affordable healthcare was not duly recognised. Observing that the Information Technology industry was always hailed or appreciated, Prasad said the “pharma industry is a an under appreciated success story.”

The recent Government decisions such as keeping product patents in abeyance in preference to public/affordable healthcare was making a positive difference, he added. – Business Line