The Indian Pharmaceutical Alliance and other industry bodies argued these changes would increase drug prices, cost jobs and hamper innovation. Industry winThe push to curb the branding of generic formulations was a risky one for India’s local drug industry, which last year derived about 80% of its $30 billion revenue from so-called branded generics. Around the world, generic drugs — cheaper copies of brand-name medicines that have lost patent protection — are key to keeping health-care costs low. But in their home market, the Indian pharmaceutical companies often sell those same copies under their own brand names and charge more for them. Modi targeted the branded generics market in April when he said that doctors should prescribe a drug by its generic name rather than a brand.

Source: Mint January 12, 2018 07:18 UTC