India Secures 11th Place in Global Pharma Exports for 2023: Government
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Synopsis
India achieved the 11th position in global pharmaceutical exports in 2023, according to Union Minister Anupriya Patel. The government has taken steps to ensure medication quality and safety, including inspections by the CDSCO. The National Pharmaceuticals Pricing Policy regulates drug prices for consumer transparency.
Key Takeaways
- India ranked 11th in global pharmaceutical exports in 2023.
- Implemented measures by the government for quality and safety of medicines.
- CDSCO conducted inspections, resulting in 694 actions.
- National Pharmaceuticals Pricing Policy regulates drug prices.
- Pharma Sahi Daam app launched for consumer transparency.
New Delhi, March 11 (NationPress) - The Indian government has implemented numerous initiatives to guarantee the quality, safety, and efficacy of medications, leading to India's position as the 11th largest exporter of pharmaceuticals worldwide in terms of value for the year 2023, stated Anupriya Patel, Union Minister of State for Chemicals and Fertilisers, during a session in the Rajya Sabha on Tuesday.
Referring to a research analysis by Bain and Company projected for 2025, Patel highlighted that total pharmaceutical exports constituted 3 percent of the global market.
“The Central Drugs Standard Control Organisation (CDSCO) and the Ministry of Health and Family Welfare have undertaken various steps to ensure the quality, safety, and efficacy of medicines,” Patel mentioned in a written response.
This includes risk-based inspections of drug manufacturing and testing units conducted in December 2022 by the CDSCO in partnership with State regulators.
“A total of 905 units have been inspected, leading to 694 actions being initiated,” the minister added.
Moreover, Patel noted that the National Pharmaceuticals Pricing Policy (NPPP) of 2012 has established guidelines for drug price regulation.
“The main principles of price regulation under this policy include - regulation based on the essentiality of drugs, pricing regulation of formulations only (which are medicines accessible to consumers), and market-based pricing instead of cost-based pricing,” Patel explained.
The National Pharmaceutical Pricing Authority (NPPA), under the Department of Pharmaceuticals (DoP), is responsible for fixing ceiling prices according to the provisions of the Drugs (Prices Control) Order (DPCO) of 2013.
To enhance consumer benefit and transparency, the Ministry has introduced the NPPA’s mobile application, Pharma Sahi Daam (PSD). This app can be downloaded from the Google Play Store for Android devices and from the App Store for Apple devices.
Users can conveniently check the brand name, composition, ceiling price, and maximum retail price of drugs through PSD.
In addition, all price notifications regarding formulations that have had fixed or revised prices are accessible on the NPPA’s website, Patel noted.
