Skip to main content

100 % FDI in existing pharma cos stays

The government will continue with the policy of allowing 100 per cent foreign direct investment in existing pharmaceutical firms.
In a Press Note, the Department of Industrial Policy and Promotion (DIPP), under the Ministry of Commerce and Industry, also said the Foreign Investment Promotion Board (FIPB) would decide on the contentious non-compete clause in special cases.
“The government has reviewed the position in this regard and decided that the existing policy would continue with the condition that ‘non-compete’ clause would not be allowed except in special circumstances with the approval of the FIPB,” the DIPP said in the Press Note.

The Press Note, signed by Additional Secretary Anjali Prasad, said the decision comes into force with immediate effect.
The department had earlier proposed strict norms to tighten the FDI policy for the sector amid concern that takeovers of Indian companies by multinationals have led to non-availability of affordable drugs in the country.
It had asked for a reduction in the FDI cap to 49 per cent from 100 per cent in rare or critical pharma verticals.
However, the Union Cabinet later dismissed the DIPP proposal.
In September last year, the government cleared the U.S.-based Mylan Inc’s acquisition of Bangalore-based Agila Specialties, a subsidiary of Strides Arcolab.
Earlier, another U.S. firm Abbot Laboratories acquired Piramal Health Care’s domestic business and in 2008, Japanese Daiichi Sankyo bought out Ranbaxy, the country’s largest drug maker. — IANS

Comments

Popular posts from this blog

Cloud seeding

Demonstrating the function of the flare rack that carries silver iodide for cloud-seeding through an aircraft. 
Water is essential for life on the earth. Precipitation from the skies is the only source for it. India and the rest of Asia are dependent on the monsoons for rains. While the South West Monsoon is the main source for India as a whole, Tamil Nadu and coastal areas of South Andhra Pradesh get the benefit of the North East Monsoon, which is just a less dependable beat on the reversal of the South West Monsoon winds.

SC asks Centre to strike a balance on Rohingya issue (.hindu)

Supreme Court orally indicates that the government should not deport Rohingya “now” as the Centre prevails over it to not record any such views in its formal order, citing “international ramifications”.

The Supreme Court on Friday came close to ordering the government not to deport the Rohingya.

It finally settled on merely observing that a balance should be struck between humanitarian concern for the community and the country's national security and economic interests.

The court was hearing a bunch of petitions, one filed by persons within the Rohingya community, against a proposed move to deport over 40,000 Rohingya refugees. A three-judge Bench, led by Chief Justice of India Dipak Misra, began by orally indicating that the government should not deport Rohingya “now”, but the government prevailed on the court to not pass any formal order, citing “international ramifications”. With this, the status quo continues even though the court gave the community liberty to approach it in …

India’s criminal wastage: over 10 million works under MGNREGA incomplete or abandoned (hindu)

In the last three and half years, the rate of work completion under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) has drastically declined, leading to wastage of public money and leaving villages more prone to drought. This could also be a reason for people moving out of the programme.

At a time when more than one-third of India’s districts are reeling under a drought-like situation due to deficit rainfall, here comes another bad news. The works started under the MGNREGA—close to 80 per cent related to water conservation, irrigation and land development—are increasingly not being completed or in practice, abandoned.

Going by the data (as on October 12) in the Ministry of Rural Development’s website, which tracks progress of MGNREGA through a comprehensive MIS, 10.4 million works have not been completed since April 2014. In the last three and half years, 39.7 million works were started under the programme. Going by the stipulation under the programme, close to 7…