‘No FDI in old pharma projects’

Agreeing with the 100 per cent cap on FDI in greenfield projects,it has urged that the ministry hold stakeholder consultations to promote such investments.

Written by Express News Service | New Delhi | Published: August 14, 2013 1:18 am

The parliamentary standing committee on commerce has recommended a blanket ban on FDI in brownfield pharma projects which it feels has encroached upon the generics base of the country.

Agreeing with the 100 per cent cap on FDI in greenfield projects,it has urged that the ministry hold stakeholder consultations to promote such investments.

“To ensure availability of essential drugs,all forms of production,pricing and distribution of pharmaceuticals have to be effectively monitored by the department of health and family welfare themselves or through regulations or through an independent regulator,” the panel noted in its report.

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