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Posted on Dec 05, 08:52PM | UNI
The Centre would soon submit its policy decision before the Supreme Court on reducing the prices of 348 essential life saving drugs listed by the World Health Organisation (WHO), Indian Pharmaceutical Congress (IPC) Chairman S Veeramani said today.
Talking to reporters here to announce the 64th edition of the IPC to be inaugurated by former President A P J Abdul Kalam at SRM University at suburban Kattankulathur tomorrow, Mr Veeramani said both the Groups of Ministers and the Union Cabinet have approved the policy that wold unveil the reduction in prices of 348 essential drugs listed by the WHO.
Since the matter was subjudice, it would be submitted before the Supreme Court during the next hearing on December 12.
After getting the Court's nod, the government would unveil the new policy that would bring down the prices of drugs by 25 to 30 per cent.
He said India was the third largest producer of drugs in the world, but in value terms it stood 14th, which clearly shows that the cost of drugs in India was far more cheaper compared to western and European countries where the prices were more than ten times higher.
India has been exporting medicines to 240 countries, he added.