Kerala Government to Start New Drug Manufacturing Firms: Industries Minister

The government purchases medicines worth Rs 300 crore each year and plans to start drug manufacturing firms to ensure that people get drugs at affordable prices.

Kerala government plans to set up drug manufacturing companies to provide medicines at affordable prices, said Industries Minister.

There is an over Rs.1,000 crore market for medicines in the state.

Injunction Sought Against Indian Drug Firm Ranbaxy
A groundbreaking injunction has been sought by US authorities against Indian pharmaceutical giant Ranbaxy

"We are all aware of the skyrocketing cost of medicines. To ensure that our people get medicines at affordable prices, we will commission a study to find out the feasibility of starting new drug manufacturing companies," said Industries Minister P.K. Kunhalikutty.

He was responding to a calling attention motion moved by senior Congress legislator V.D. Satheesan stating that the government sector alone purchases medicines worth Rs.300 crore annually.

"At the moment there is one state owned drug manufacturer (Kerala State Drugs and Pharmaceuticals) and they manufacture very few medicines," said Satheesan.

Drug Firm Jubilant Life Sciences Gets ANDA Approval for Generics Mycophenolate Mofetil and Rizatriptan
The Indian drug company, Jubilant Life Sciences, has announced in a statement that it has received final approvals for its generics Mycophenolate Mofetil and Rizatriptan from the FDA.

"The problem with KSDP is that they are used to a particular culture which has been in practice for long. But things have changed now and drug manufacturing has become an easy task," he added.

He said the Congress will launch a statewide campaign to fight fleecing by drug manufacturers.

Mumbai- Based Drug Firm Recalls Over 160,000 Cartons of Drugs from the US Market
Recalls have been classified as 'Class-II' by the FDA because using or exposure to the drugs may have caused adverse health consequences in certain individuals

One of the key companies the Kerala government is planning to associate with is the central mini-ratna company HLL Lifecare Ltd, headquartered in the capital city.

The company is in the process of implementing a Rs.594-crore Integrated Vaccines Project at Chengalpet near Chennai.

Ahmedabad- based Drug Firm Takes Hold of 50-Year-Old Zyg Pharma Ltd
The acquisition will help Torrent Pharmaceuticals strengthen its position in the niche dermatological segment of the developed markets.

Source-IANS