Search Result for : Drugs

The Dollar Business Bureau In a bid to facilitate exports and make easier to do business, the Government on Wednesday eased the guidelines for drugs, medical devices and cosmetics exporters. Now the pharmaceutical companies will no longer have to get ‘no-objection’ certificate (NOC) from regulatory authority to export drugs and medical devices. “The pharmaceutical exporters can continue exporting without having to obtain no-objection certificates (NOC) from the regulatory authorities,” said the Central Drugs Standard Control Organisation (CDSCO) in a notice. Earlier, this facility was only available for exports to Australia, US, Japan, Canada, and European Union. Now CDSCO has extended the rule for exports to all other countries. “In partial modification of notice of even number dated December 11, 2015, removing the requirement of NOC for ...

The Dollar Business Bureau Moving of manufacturing bases to international markets by some domestic firms and lack of blockbuster drugs going off-patent are some of the reasons for decline in country’s pharma exports, C R Chaudhary, Minister of State for Commerce and Industry informed the Parliament on Wednesday.  The pharmaceutical exports dropped by 0.43% in terms of value and 6.95% in terms of volumes in financial year 2016-17, Chaudhary said in a written response to the Rajya Sabha.  The Minister said some of the reasons for decline in pharma exports include consolidation of buyers in the US into three large groups with significant bargaining power, absence of blockbuster drugs going off-patent and certain Indian companies shifting their manufacturing bases to the US, EU ...

The Dollar Business Bureau Indian Pharma exports to the US may increase in 2017-18 despite pricing pressure and stiff competition. A report released by Care Ratings said that $50 billion worth of drugs are expected to become 'off-patent' in the current year giving hope to the Indian Pharma export market. "The pharma export volumes from India to US, however, are expected to rise. This will be backed by about $55 billion expected sales gain to generics drugs on account of branded drugs going off patent during 2017-19 which will create an opportunity for CRAMS segment. We expect growth rate for CRAMS (Contract Research and Manufacturing Services) to be higher compared to average growth rate of the industry. These factors are likely to support pharma exports from India," ...

By Ranjeet Mahtani & Sweta Rajan On the path to complete all responsibilities and release the requisite laws, regulations and rates ahead of the proposed transition date of July 1, 2017, the GST Council met on June 3, 2017. The key developments during the meeting were: A committee comprising revenue officers from Centre and States is to be set up to entertain complaints relating to anti-profiteering. GST rates of the items which were not placed across the agreed rate slabs (after the Council’s meetings on 18 and 19 May, 2017) were decided, including 3% GST on gold and gold jewellery, 0.25% on rough diamonds, 5% on packaged food items sold under registered trademarks, 18% on biscuits, 5% on footwear priced below Rs. 500/- ...

The Dollar Business Bureau The DGAD in its latest notification no's- File No.14/31/2016-DGAD & F.No.15/02/2016-DGAD, dated May 23, 2017, reveals that the preliminary findings into the investigation concerning the dumping of Ofloxacin Acid and Sewing machine needles originating in or exported from China PR have been found to be relevant. Ofloxacin Acid also called O-Acid is an intermediate chemical for manufacture of Ofloxacin, which is a synthetic chemotherapeutic antibiotic of the fluoroquinolone drug class considered to be a second-generation fluoroquinolone, generally used to treat a variety of illnesses including bronchitis, pneumonia, and infections of the skin, bladder, urinary tract, reproductive organs, and prostate, as well as used in the making of generic drug equivalents for oral and intravenous administration. This drug is ...

The Dollar Business Bureau A milestone trade agreement between India and Chile which was approved by the Indian Cabinet on September 6, 2016 will be effected from May 16, 2017. The expanded PTA will benefit both the countries in several ways, as a wide variety of concessions has been agreed upon on a number of tariff lines by both the sides. "The expanded PTA has a wider coverage. This would facilitate exporters of both sides to take the advantage of tariff concessions as per the expanded PTA immediately which covers around 96 percent of bilateral trade." A Preferential Trade Agreement (PTA) which was signed on March 8, 2006, came into force in 2007. "The original PTA had a limited number of tariff lines, wherein both ...

Sneha Gilada The pharma bigwigs, after the government recently imposed a cap on stent prices, are in for another rough ride as PM Modi seeks to make prescription of cheap generic drugs binding on doctors. Speaking at the inauguration ceremony of a charitable hospital in Surat on April 17, Narendra Modi vowed to take on the mantle of making healthcare affordable to the Indian middle class and poor. In his speech, he averred that the health policy was being revamped after a gap of 15 years. The last time it was updated was back in 2002. The new health policy lays special emphasis on the pricing of drugs included in the National List of Essential Medicines (NLEM), along with the timely revision of the list. "Price control ...

The Dollar Business Bureau  India has rejected 955 patent applications in the pharmaceutical sector during the last three years. "... 618 applications have been rejected citing Section 3 (d) of the Patents Act, 1970, as one of the grounds for rejection in the last three years," Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha today. "A total of 955 patent applications in pharma have been rejected by the Indian Patent Office (IPO) in the last three years," she said.  Sitharaman said India is considered as a leading exporter and currently holds second position in outbound shipments of generic drugs.  Replying to a separate query, the commerce minister said exports from SEZs have witnessed a slowdown due to the withdrawal of ...