PHM-Exch> Ban recommended on MNC acquisition of Indian pharmaceutical companies

[Claudio Schuftan]

From: shila kaur <kaur_shila at yahoo.com>
Health Action International Asia Pacific (HAIAP)
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excerpts
New Delhi, 22 August (K M GopaKumar) – India’s Parliamentary Standing
Committee on Commerce has recommended a blanket ban on the acquisition of
Indian pharmaceutical companies by pharmaceutical multinational
corporations (MNCs).
The investigation of the Committee was prompted by a series of MNC
acquisition of Indian pharmaceutical companies since 2006. During the last
seven years many large and medium sized Indian pharmaceutical companies
were acquired by MNCs.  Some of the high profile acquisitions include the
acquisition of Ranbaxy, Shantha biotech and Nicholas Piramal by Daiichi
Sankyo, Sanofi-Aventis and Abbott respectively.
 These acquisitions have raised concerns with regard to the future
availability of affordable medicines as well as the effective use of the
WTO TRIPS flexibilities including pre-grant opposition and compulsory
license.  The Ministry of Health and Family Welfare and Ministry of
Commerce and Industry have publicly aired their concerns.  Civil society
organizations also demanded concrete response from the government to check
MNC acquisition of Indian pharmaceutical companies, which they say
compromises access to affordable medicines.
 A loophole has been used by MNCs to acquire many domestic pharmaceutical
companies.
The Committee stressed the importance of access to affordable medicine and
stated that “we should not lose sight of the fact that access and
affordability of medicines is integral to the fundamental right to life
enshrined in our constitution. Any policy that contradicts the basic
fundamental rights of our citizens must be discarded”.
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