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Pharma Trade & India & Japan - Today Current Affairs Topics

Challenges In Pharma Trade


What is the issue?
The Indian pharmaceutical industry is facing challenges in both domestic as well as in international markets.
What is the model of Indian Pharma industries?
  • India is the third largest supplier of the world’s requirement of medicine.
  • It capitalised on a strong domestic base in India through rapid product introductions, a kind regulatory and intellectual property system.
  • Indian pharma companies chose pockets in Africa, Asia and the Middle East as natural expansion outposts.
What are the challenges in Indian pharma trade?
  • Domestic-Indian patients are paying high prices for drugs, due to fragmentation of distribution channels.
  • The drug regulatory laws are not implemented in identical fashion across every state and city of the country.
  • There are many ill-trained chemist all over the nation.
  • International- US Supply channel consolidationhas led to 90 per cent of the buying power concentration in three big companies, hindering trade of Indian companies.
  • The Food and Drug Administration along with increased scrutiny has been approving the backlog of drugs aggressively, leading to hyper-competition.
  • Buyers have tightened the screws and are increasingly vigilant about even legitimate price increases.
  • The combined effect has wiped out nearly 40 per cent of the core industry’s market cap, destruction of over Rs 5 lakh crore.
How the challenges can be addressed?
  • The national regulator can engage to re-skill and train employees and hold them accountable to one common national standard.
  • Beyond the core generics drugs companies should invest in diversified portfolio such as vaccines, animal health.
  • The Indian pharma industry should focus on capital allocation choices and capability building.
  • Three simple things innovation, calibrated diversification and consolidation must be carried out.
  • The industry needs to diversify the geography risk beyond the US and India, invest in innovation beyond traditional generics and acquire more global scale.
  • India does not need more than 500 companies to have a reasonably competitive market, remaining should merge and acquire global scale.

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India & Japan - Agreements On The North-East


Why in news?
  • A memorandum of understanding to set up India Japan Act East Forum is one of the outcomes of the recent 12th Indo-Japan annual summit.
  • Other major agreements focussing the north-eastern region were  also signed during Japanese PM's visit to India.
 What are the highlights?
  • Forum - The forum aims at bringing together India’s Act East Policy and Japan’s Free and Open Asia-Pacific strategy.
  • This is expected to bring connectivity and promote developmental projects in India’s Northeast region.
  • Loan - India and Japan also signed a document on Japanese loan and aid for highway development in the Northeast.
  • Japan will extend a loan of Rs 2,239 crore to India for ‘North East Road Network Connectivity Improvement Project’.
  • This will complement India's other connectivity projects in the region including BBIN (Bangladesh, Bhutan, India, Nepal) and BIMSTEC Motor Vehicle Agreements.
  • The connectivity initiatives are also part of the Indo-Japan corridor conceived earlier for the Indo-Pacific region.
  • The corridor also extends to Eastern Africa under the Asia Africa Growth Corridor.
What is the significance?
  • Development of the Northeast is a priority for India and a key to promote its Act East Policy.
  • In this context, the agreements come as a contribution to intra-regional and international connectivity in the Northeast region.
  • Significantly, it is viewed as an alternative to the Chinese dominated One Belt One Road (OBOR).
  • Besides, Japan has a great potential for people-to-people and cultural exchanges between Japan and the Northeast.
  • This comes in the backdrop of Japan's historic connection to the Northeast through the Battle of Imphal (fought between Japanese Army and the British during World War II).

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