PharmAsia News
August 13, 2013
Executive Summary
A committee of India's Parliament called for closing India's existing pharmaceutical industry to foreign direct investments, while allowing unlimited FDI for new business projects.
A committee of India's Parliament called for closing India's existing pharmaceutical industry to foreign direct investments, while allowing unlimited FDI for new business projects. The Commerce Committee issued a report saying recent mergers and acquisitions of India pharmas already have had a negative impact on the local generics industry. The panel said past FDI has not resulted in additional capacity, technology transfer or increased employment for India. The report warned of a monopoly by multinational drug makers if more FDI is allowed in established India companies.