Trump’s anti-tariff stance on drug import cheers companies
Donald Trump’s win in the US presidential elections may create a new set of opportunities for Indian generic drug makers. Trump is expected to remove the restrictions on drug imports as he said this would give American patients greater access to drugs manufactured abroad.business Updated: Nov 10, 2016 14:16 IST
Donald Trump’s win in the US presidential elections may create a new set of opportunities for Indian generic drug makers. Trump is expected to remove the restrictions on drug imports as he said this would give American patients greater access to drugs manufactured abroad.
“The market for generics will remain strong in the United States as our reasonable pricing supports their agenda of keeping healthcare costs low,” said RC Juneja, chief executive officer at Makind Pharma.
“Trump’s proposal to lift entry barriers for drug makers that offer safe, reliable and cheaper products may create new opportunities for Indian firms,” said DG Shah, secretary general of Indian Pharmaceutical Alliance.
Also, Trump’s healthcare website promises that he will not “not allow people to die on the sidewalks and the streets of our country” for lack of access to proper healthcare.
However, his stance on intellectual property rights (IPRs) is still unclear. Big pharma, including the American drug makers, have lobbied their governments to force India to dilute the provisions over the IPR.
The domestic IPR provisions have served Indian consumers well by keeping the price of some important drugs under check as the patent office’s rulings have by and large been upheld by the highest courts.
“Trump’s views on IPR aren’t clear yet. He may push the matter as well,” said Hitesh Sharma, national leader, life sciences at consultancy E&Y.
On the other hand, Democrat party candidate Hillary Clinton had proposed to deny tax breaks to drug companies in a bid to end profiteering.