India, Feb. 15 -- It recommends that the government adopt cost of production-based pricing system
The Centre has failed to not just reign in escalating drug prices but has also not been able to curb the business of substandard drugs, according to a Parliamentary standing committee report submitted on February 13, 2019.
It added that drugs account for more than 70 per cent of one's medical expenses. This has happened since the government decided to adopt market-based pricing system instead of calculating it through cost of production.
The secretary of department of pharmaceuticals told the committee that anyone hardly ever invests on drug innovation in India. "One innovation will cost at least a billion dollars in investment. There are 99...