The perception of a rise in corruption and lack of transparency in the health care sector could invite stricter norms and regulation. The government might cap the Maximum Retail Price of medical devices, mainly the ones meant for hospital usage such
It is interesting to see how Govt views price controls as a way of controlling corruption, bribery and kickbacks. The regulators view all these activities as evidence of slack and excessively high prices in the system which they want to eliminate in order to bring down prices. But is price control the right tool for this particular job?
India has withdrawn the drug pricing authority's powers that allowed it to fix the prices of medicines not deemed essential, after its decision to impose price caps on more than 100 drugs in July triggered industry protests.
GlaxoSmithKline said a Chinese court found its subsidiary in the country guilty of bribing nongovernment personnel and fined the company close to £300 million ($491.5 million), in what Chinese state media said was the largest ever corporate fine.
Amar Bhat's insight:
While GSK is finally seeing some resolution to this story, I wonder if the Chinese authorities will start to focus on other MNCs or other sectors in their efforts to clean out more corruption.
New Delhi, 17 SeptemberIndian and Chinese officials signed business deals worth $3.43 billion here on Wednesday.An agreement worth $2.2 billion was signed between Indigo Airlines and Industrial and Commercial Bank of China (ICBC) for leasing and
Cadila to take innovator drug to US, Europe markets - Cadila Healthcare will soon start filings for approval of its innovator drug Lipaglyn in advanced markets such as the US and Europe. The drug has current patients base of 50,000 in India within the first year of its launch.
UK-based pharma and biopharmaceutical major AstraZeneca has launched its first Global Technology Centre (GTC) to develop its world-class IT capacity, in Chennai as part of its strategy to cut down its IT budget and improve operational efficiency and
President Obama’s nominee for ambassador to India is an Indian-American who served in the U.S. Air Force and in the State Department. Analysts say his appointment could help soothe strained U.S.-India ties.
An analysis of 1,470 samples of two antibiotics and two tuberculosis drugs that were labeled as made in India, and then sold in Africa, India, and five middle-income countries elsewhere, found that more sub-standard drugs were purchased in Africa by the researchers.
Amar Bhat's insight:
Researchers find that un-registered pharmaceuticals in African countries, i.e. those drugs that have not received official approval to market in that country, are more likely to be substandard, adulterated. Not a huge surprise.
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