On 16thSeptember,2009,one of the headlines in the Times of India read that the government expects the pharma companies to do self -regulation.This is real news !
The article went on to state that most of the pharma companies in India are the MNCs which have been fined for gross improper conduct by courts in the US ,UK & Europe.The fine runs into several million dollars as they bribed doctors to change medicines & sent them on foreign jaunts for recommending their products et al.When in the west,the pharma companies can behave so blatantly in violation of all laws which are much more stringent ,how does the State expect that there will self -policing ?Moreover most of the pharma MNCs are at loggerheads with Indian pharma companies as Indian pharma companies make cheaper versions of drugs available to the Indian public.This is a huge loss for the MNCs in the Indian pharma market.There are many court battles being fought about patents & trademarks between the Indian companies & the MNCs over such matters.
With the elections around,it is understandable, that a lot of money has changed hands from the MNCs to the political parties.No political party seems to oppose self regulation in the pharmaceutical industry.This means that the MNcs have cultivated all of them without discrimination !
The Times report stated that the MNCs account for nearly 70% of the Indian drug market.With our rulers allowing the pharmaceutical industry to discipline themselves,this share of the Indian drug market will very soon become 100% !On second thoughts,if there is self -regulation allowed for all -industries,individuals,etc,is there any need for governance ? Obviously,there won't be, as that would be Utopia !