Govt could allocate more incentives to R&D to improve quality standards
A report from CARE Ratings on budget expectations for FY19 has made three predictions. Firstly, the report expects the government to proceed with its focus on use of generics drugs in the domestic market.
Secondly, rising inspections, quality and compliance issues with the major export destination may prompt the government to make some allocations or provide some incentives towards the research & development facilities in the industry that would aid the companies to improve the quality standards of the generic drugs and enhance their investments in speciality drugs.
The third prediction is a likely higher budget allocation to the healthcare sector would provide benefit to the pharma companies as it will enhance opportunities for the Indian pharma industry.
Related to pharma industry CARE in its reports states, “We expect the government will proceed with its focus on use of generics drugs in the domestic market. Rising inspections, quality and compliance issues with the major export destination may prompt the government to make some allocations or provide some incentives towards the research & development facilities in the industry that would aid the companies to improve the quality standards of the generic drugs and enhance their investments in speciality drugs. A likely higher budget allocation to the healthcare sector would provide benefit to the pharma companies as it will enhance opportunities for the Indian pharma industry.”
- Advertisement -
Comments are closed.