Popular Articles

Govt mulls PSU disinvestment piggyriding on FPOs
The government will consider disinvesting its stakes in profitable listed public sector units when these come out with follow-on offers.

Service satisfaction
Jagdish Khattar wants to fill the gap in the service infrastructure for cars. Will he succeed?

News of the day

Rel Cap Q3 net dips 52% to Rs 63 cr
Anil Ambani Group firm Reliance Capital today reported 52% decline in its consolidated net profit at Rs 63 crore for the third quarter ended December 31, 2009.
Small Business

Step up vigil to stop fake Made-in-India drugs in Africa: govt

Shocked by the surfacing of fake Chinese medicines with "Made in India" logo in Africa, the government has asked its missions in the region to step up vigil for protecting the nation"s image and market. - Report on pharma innovation to be released at USIBC meet - Apex Court overrules HC order favouring Gufic Ltd - Novartis says produces first batch of H1N1 vaccine - Zydus Cadila files anti-diabetic drug application with DCGI - Glenmark gets US regulatory nod for anti-hypertension tablets - Taro acquisition may cost Sun Pharma Rs 1,000 cr "Commerce and External Affairs ministries have written to our Mission in Africa that such type of things should be monitored strictly," a senior Commerce Department official told PTI. Recently, there were seizure of fake drugs in Nigeria which were carrying "Made in India" label but were allegedly manufactured in China. India has taken the issue very seriously as this could damage the reputation of the Indian pharmaceutical industry in the global market. India has also raised the issue with China. Though China has assured of investigations in the matter, Indian authorities have not been given any time frame, the official said. "We do not know how fast China will conduct the enquiry and what action they will take against those responsible," he added. Sources, however, said it was difficult to keep tab on counterfeit drugs in Africa as most of the medicines find way to the interior regions. Besides, most of the African countries do not have a well-knitted mechanism to check spurious imports. "Such incidents can damage our markets," the official said. India"s exports around seven billion dollars worth of generic pharmaceutical products and Africa accounts for a sizable portion of this. Indian drug companies such as Cipla, Dr Reddy"s and Aurbindo Pharma have increased their shipments to the region and are posing a challenge to the multinational firms for which Africa is considered as a traditional market. According to industry estimates, global sales of counterfeit drugs are expected to reach 75 billion dollars by 2010, a more than 90 per cent increase from 2005.


Add your comment:
Name:
Site address: http://
Your message:
Enter today\\\\'s date, 2 digits
(spam protection):