Pharma companies must invest in R&D to keep growing: Prabhu
New Delhi, July 13 : Noting that India is now recognized globally as a key player in the generic medicine industry, Commerce Minister Suresh Prabhu on Friday asked pharmaceutical companies to invest in research and development (R&D) for further growth of the sector.
Speaking at an event here, organised by the Organization of Pharmaceutical Producers of India, Prabhu said the government is taking steps to make pharma companies more innovative.
"All companies in pharma industry must ensure that they invest good part of their topline in R&D. Because if you do not have pipeline of new drug delivery or new molecules, you will always have problem down the line," he said.
"By 2020, India is likely to be among the top three pharmaceutical markets by incremental growth and the sixth largest market globally in absolute size.
"Increase in the size of middle class households coupled with the improvement in medical infrastructure in the country will influence the growth of the pharmaceuticals sector," he added.
The Minister asked the companies to make a proper balance between making profits and protecting consumer interests.
"We must have a trade-off. We cannot take only one of that issue for granted," he said.
"We will make sure that the industry grows and at the same time the consumer interest is also adequately protected."
Prabhu also said that Indian pharma firms were facing problems of market access in China, which had been resolved following his talks with the Chinese Commerce Minister.
According to a Commerce Ministry release, the Indian pharmaceuticals market witnessed a compound annual growth rate of 5.64 per cent during 2011-16, with the market increasing from $20.95 billion in 2011, to $27.57 billion in 2016.
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'Someone must be held accountable': HC converts civil suit on Goa nightclub tragedy into PIL
Panaji (PTI): The Bombay High Court on Monday converted a civil suit against Birch by Romeo Lane nightclub into a Public Interest Litigation (PIL) saying "someone has to be held accountable" for the tragedy in which 25 people were killed.In a stern observation, Goa bench of the High Court of Justices Sarang Kotwal and Ashish Chavan said the local panchayat had "failed to take suo motu cognisance" of the club and had taken "no action despite complaints."
The division bench directed the Goa government to file a detailed reply on the permissions granted to the nightclub.
The High Court, while fixing January 8 as the next date of hearing, pointed out that commercial operations were continuing in the structure despite it having been served a demolition order.
The original petition was filed after the December 6 tragedy by Pradeep Ghadi Amonkar and Sunil Divkar, the owners of the land on which the nightclub was operating.
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Advocate Rohit Bras de Sa, the lawyer representing the petitioner, was made amicus curiae in the matter and has been asked to file a detailed affidavit in the matter.
In their petition, Amonkar and Divkar highlighted "the alarming pattern of statutory violations that have remained inadequately addressed despite multiple complaints, inspections, show-cause notices, and even a demolition order".
They contended that these violations posed "immediate threats to public safety, ecological integrity, and the rule of law in the state of Goa."
Investigations by multiple agencies into the nightclub fire have revealed various irregularities, including lack of permissions to operate the nightclub.
The Goa police arrested five managers and staff members of the club, while co-owners Gaurav Luthra and Saurabh Luthra have been detained in Thailand after they fled the country.
