{"id":133106,"date":"2021-09-10T20:05:03","date_gmt":"2021-09-10T14:35:03","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=133106"},"modified":"2021-09-11T14:07:11","modified_gmt":"2021-09-11T08:37:11","slug":"terra-pharma-a-new-drugs-legislation-must-keep-the-pharma-sector-growing-while-safeguarding-consumer-interest","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/terra-pharma-a-new-drugs-legislation-must-keep-the-pharma-sector-growing-while-safeguarding-consumer-interest\/","title":{"rendered":"Terra pharma: A new drugs legislation must keep the pharma sector growing while safeguarding consumer interest"},"content":{"rendered":"\n

Synopsis<\/strong>: Pharma ecosystem is rapidly evolving and needs proper monitoring and regulation.<\/p>\n

Introduction<\/strong><\/h5>\n

The Union government has constituted a committee for framing draft legislation regarding new drugs, cosmetics and medical devices.<\/p>\n\n\n\n
Read more:<\/strong> Panel set up to draft Bill on drugs, cosmetics and medical devices<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
What is the performance of Indian Pharma at global level?<\/strong><\/h5>\n

Indian Pharma industry is ranked as the second-largest in terms of workforce<\/strong>. It is ranked as third in terms of production volumes<\/strong>. Furthermore, It is also ranked as 14th in terms of global value<\/strong>.<\/p>\n

The Economic Survey 2020-21 <\/strong>also estimated a threefold growth for the pharma industry from its $40 billion current market size by the end of this decade.<\/p>\n

What is expected in the new law?<\/strong><\/h5>\n

Consultation: <\/strong>It will have to be framed after consulting all the leading industry voices and health experts<\/strong>.<\/p>\n

Uniform standards<\/strong>: It will seek to address one of the major flaws of the present regime is the dual regulation by CDSCO<\/strong> (Central Drugs Standard Control Organization) and the states<\/strong>. The new law will enforce uniform standards to prevent malpractices in the system.<\/p>\n

Uncertain Regulatory environment: <\/strong>E-pharmacies<\/strong> are adjusting and evolving after the recent regulatory and judicial declarations. Still, the risks like forged prescriptions continue.<\/p>\n

Even in Brick and mortar shops, the risks like the sale of over-the-counter antibiotics and Schedule H drugs<\/strong> continue. The new law has to properly regulate these instances.<\/p>\n

India needs a mature pharma ecosystem where the entire chain from prescription to sale of drugs is monitored. The new law must streamline manufacturing rules, quality control and R&D norms to help Indian companies meet new challenges.<\/p>\n

Source: <\/strong>This post is based on the article \u201cTerra pharma: A new drugs legislation must keep the pharma sector growing while safeguarding consumer interest\u201d <\/strong>published in The Times of India\u00a0<\/strong>on 9th<\/sup> September 2021.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Synopsis: Pharma ecosystem is rapidly evolving and needs proper monitoring and regulation. Introduction The Union government has constituted a committee for framing draft legislation regarding new drugs, cosmetics and medical devices. Read more: Panel set up to draft Bill on drugs, cosmetics and medical devices What is the performance of Indian Pharma at global level?… Continue reading Terra pharma: A new drugs legislation must keep the pharma sector growing while safeguarding consumer interest<\/span><\/a><\/p>\n","protected":false},"author":5480,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[212],"class_list":["post-133106","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-2","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1701956810},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/133106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/5480"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=133106"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/133106\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=133106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=133106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=133106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}