Agovernment panel has proposed that prices of patented medicines be based on the country’s per capita income, a move that would substantially reduce prices of costly drugs made by global pharmaceutical firms.

The proposal, which seeks the input of other government agencies as well as industry groups, could provoke the ire of Big Pharma, which has clashed with India over protection of intellectual property, price regulations for generic drugs, and compulsory licenses for costly medicines.

The C Rangarajan committee’s proposal to nearly double the domestic price of natural gas, if implemented, could adversely affect the government’s subsidy reduction plan and make the new urea invest

BHUBANESWAR: The Indian Red Cross Society (IRCS), state branch, is planning to increase the number of Jan Aushadhi stores to 400 within a year. At present, just 16 such fair price shops sell generic medicines in the state. The shops, established under Centre-sponsored Jan Aushadhi scheme, sell 'quality' medicines, manufactured by PSUs, at a price as low as one-tenth of the prevailing market rate.

An initiative of the Union ministry of chemical and fertilizers, these shops popularize generic medicines. In Odisha, such stores are managed by the IRCS. The Medical Council of India recently asked doctors to prescribe generic medicines.

The fertiliser ministry has opposed Reliance Industries' demand for hiking the KG-D6 gas price in line with the Asian LNG spot price, effective from April 2014. The ministry wants the price to be not more than $8/mmBtu.

RIL pitched for the gas price, post March 2014, to be about 10% below the spot price of LNG imported from Qatar — $12-13 at current rates. According to sources, during discussions with the government, the fertiliser ministry contended that such a price (on which consumers will have to pay an extra $1-1.5 to cover transporation charges and marketing margins) is not viable for the fertiliser industry whose output is highly subsidised, adding that any such move will cause a burden on the exchequer.

When Union Minister of State for Chemicals and Fertilisers Srikant Jena described Orissa’s mining scam as bigger than those of Goa and Karnataka put together, it might have been only a figure of sp

The Board for Industrial & Financial Reconstruction (BIFR) will take up hearing on the closed fertiliser plant of Fertiliser Corporation of India (FCI) on October 30.

BIFR has directed FCI to submit all audited accounts- balance sheets and profit & loss accounts along with auditor reports from the date of sickness to the present period. The board has also asked FCI’s chief executive and one of its directors fully acquainted with the closed unit’s case to be present at the time of hearing.

The ministry of chemicals and fertilisers had proposed to set up a national chemical centre to formulate environment and human-friendly policies and contain risks posed by chemicals.

This is aimed at streamlining legislation governing the industry and making entities concerned responsible for their acts. The industry, at present, is governed by multiple legislations under several ministries — the Environment Protection Act, 1986; Factories Act, 1948; Motor Vehicles Act, 1988; Explosives Act, 1884; Disaster Management Act, 2005; CWC Act, 2000 and Land Acquisition Act, 1894.

New Delhi: India will, for the first time, put a cap on the maximum price at which essential drugs can be sold in the country.

Bhubaneswar: The Odisha government today said paddy production is likely to be affected by an average 12 per cent during this kharif season due to inadequate and untimely fertiliser supply to farme

The Supreme Court on Tuesday came down heavily on the Central government for delay in finalising a new drug-pricing policy which will determine prices at which pharma companies can sell essential m