fifty years ago September 8, 1971 Archives

From the Archives (September 8, 1971): Growth in allopathic drug companies

Commercial units manufacturing allopathic formulations and basic drugs have registered a ‘phenomenal’ growth during the 24 years after independence. Some 2,300 units are now making a turnover of Rs. 266 crores as against Rs. 10 to 15 crores in 1947. Disclosing this here to-day [Indore, September 6], the Union Minister of State for Petroleum and Chemicals, Mr. P.C. Sethi, said while the Government was largely satisfied by the progress in the field of manufacture, it was equally concerned to see that the formulations and drugs were sold to people at ‘reasonable’ price. Speaking at a reception arranged by a local drug manufacturing concern, Mr. Sethi said the Drug Control Act had proved to be an effective measure in checking the prices of drugs and other medicines. The Minister agreed that some of the drugs still continued to be sold at a higher price, but that was due to lack of adjustments at dealer level. Mr. Sethi had held talks on the matter yesterday with a number of manufacturers in Bombay and hoped to remove the disparity soon.

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