The government has expanded the composition of the committee formed to look into pricing reforms for drugs and medical devices by admitting various industry bodies, according to a circular issued by the Ministry of Chemicals and Fertilisers.
The committee, which was constituted by the Department of Pharmaceuticals on March 12, will now have representation from industry bodies such as the Confederation of Indian Industries (CII), the Organisation of Pharmaceutical Producers of India (OPPI), and the US-India Strategic Partnership Forum (USISPF), among others.
The terms of reference of the committee include discussing institutional reforms within the National Pharmaceutical Pricing Authority (NPPA) and ways to balance price and availability of essential medicines, while providing incentives to the industry to sustain growth and exports.
Commenting on the inclusion of industry bodies in this committee, Anil Matai, Director General, OPPI, said that achieving a balanced approach to price review within the pharmaceutical and medical device sectors requires the participation of a diverse range of stakeholders in the decision-making process.
“With broader representation, the committee is poised to develop a more inclusive pricing strategy that addresses the needs and concerns of all stakeholders involved,” said Satyaki Banerjee, Executive Director and Group Chief Operating Officer, Trivitron Healthcare.
According to an industry source, the committee will also look at ways to design a price moderation framework for medical devices while providing incentives to the medtech industry to minimize imports.
“In line with this mission, the department has also invited medical device associations such as Medical Technology Association of India (MTaI) and Association of Medical Device Industry (AIMED) to be part of the committee and present the views of the medtech industry,” he said.
Speaking on the importance of including medtech bodies, Rajiv Nath, Forum Coordinator, AIMED, said that the industry is happy that the Indian government plans to review the regulations controlling drug prices, which will now include medical devices too.
Highlighting the need for medical devices to have separate rules from pharma, Nath said that the industry has been asking for rules that stop companies from artificially raising prices on medical device labels.
“This practice hurts honest manufacturers and marketing companies. Instead, we want fair competition based on the real value of the products, not inflated prices,” he added.
SOURCE – Business Standard
