Separate department for pharma sector on anvil

In view of the robust growth of the pharmaceutical sector, the Government has decided in-principle to create a separate department dedicated to the sector, Union Minister of Chemicals and Fertilisers Ram Vilas Paswan said on Tuesday.

Addressing the media, the Minister said the proposed department for the pharma sector would be carved out from the existing chemical and fertilizer department, which is now also taking care of the sector.

Responding to a question on the demand of the Indian Drug Manufacturers Association (IDMA) for revising the ceiling prices of 33 bulk drugs in the wake of the appreciating dollar against the rupee, the Minister said, “In a situation where the profit margins are as high as 200 per cent, there is no possibility of any company closing its manufacturing business due to the price control mechanism of the government.

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