Balancing Affordability and Growth in Pharma: India's Pricing Strategy

Union Chemicals and Fertilizers Minister J P Nadda announced the government's efforts to make essential medications affordable, focusing on balancing pricing policy with industry growth. Speaking at Rajya Sabha, Nadda stressed the aim to create an equilibrium between the pricing of essential drugs and industry development.

The minister assured that robust drug and pricing policies are in place, with ongoing price regulation being a continuous endeavor. He outlined the government's strategy to ensure medicines are accessible and affordable, while also fostering industry innovation and employment opportunities.

Nadda highlighted ongoing consultations with stakeholders to assess policy relevance, with feedback influencing potential reforms. Through mechanisms like the National Health Mission and Jan Aushadhi Kendras, the government aims to provide medicines and reduce out-of-pocket expenses, which have significantly decreased over the last decade.