Govt to ease norms to make up for FDC ban
business Updated: Jun 07, 2016 05:50 IST
NEW DELHI: After banning 344 fixed dose combinations in March, the government is now working to reduce regulatory hassles in the pharma sector to keep its image as an attractive investment destination intact.
The commerce ministry has told drug controller general of India (DCGI), GN Singh, that the ban shows India in poor light.
As a result Singh, who stands by the ban, has started working closely with the commerce ministry on easing drug registration and approval processes.
“Clearance time will come down to 15 days from the current 6-9 months. Also, the entire registration process is set to go online in next six months,” Singh said.
“We have been asked to work on increasing exports, create a business friendly environment along with hurdle-free issuance of noobjection certificates (NOCs) for drug manufacturing and export.”
The ban, however, is subjudice with the Delhi high court as over 100 pharma companies had appealed against the order terming the ban “absurd”.
The ban impacted top selling formulations such as Pfizer’s Corex, P&G’s Vicks Action 500 Extra and Abbott’s Phensydyl.
According to government estimates, the ban that impacts over 2,700 branded drugs, will lead to a loss of about Rs 7,000 crore for the Rs 1-lakh crore domestic pharma industry.
Mails sent to Abbott and Pfizer remained answered.
First Published: Jun 07, 2016 05:50 IST