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Should we be controlling the price of drugs or offer direct subsidy?

Created by : Harshad Naik, Product Development Manager, Care Biomedicals  | 12 03 2009 09:27:41 +0000
Keywords : india health healthcare hospitals medicines health care medical rural treatments essential affordable
Activity:  936 views;  last activity : 07 06 2010 20:18:09 +0000

The World Health Organisation defines essential medicines as those that satisfy the priority health care needs of the population. All medicines can prove essential or life-saving depending upon the situation. The price of the medicines is a big issue in India.

What should the government do? Should they control the price or should offer subsidy?

  
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Control the Price Vs Offer Subsidy
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Top Argument
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I believe that direct price control is essential in India to reduce the price of the medicines. The government has already issued a list of 74 bulk drugs and fixed the price of all medicines that use any of these bulk drugs as an ingredient. But the companies overcome this by substituting the price-controlled component and replacing it with alternative ingredients that remain outside the purview of price control while retaining the same brand name. So the government must announce a strict policy to control the prices of medicines.
By Bindu Narayan, Product Development Manager, Care Biomedicals  12 03 2009 09:57:10 +0000
 
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The Supreme Court has asked the Central government to formulate a pharmaceutical pricing policy that will bring all essential medicines under price control. Even though price control can be brought in, there is no way to ensure continued availability of medicines as associations of drug manufacturers have said they will be compelled to discontinue production of those medicines whose prices are not realistic from their point of view. So in my opinion the government should offer subsidies to the manufactures to bring down the price of essential medicines.
By Harshad Naik, Product Development Manager, Care Biomedicals  12 03 2009 09:28:34 +0000
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This further to Bindu;s argument which I support. Subsidizing the medicine will not help much as they are not available in most of places especially remote areas. The government should implement a strict policy in this regard where substituting the ingredient from the original formula shall call for rendering the drug as new and it must go through all the regulatory approval before being marketed whether in bulk or formulated. Its high time that we ignore things. India is a huge and potential market given the size of its population and the individual;s health should not be taken for granted. This will help in controlling the prices of medicines.
By Mustafa Mahedvi, Assistant Manager, Serum Institute of India Limited  | 12 03 2009 18:54:58 +0000
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