India caps prices of 108 more drugs - drug companies freak

India has capped the prices of 108 more drugs. The drug companies have freaked right out and predicted the end of quality drug production (possibly) in India. I think that means they're pissed off about a cut to their massive profit margins.

Drug companies don't like Australia's PBS either. Is pretty much anti-christ to them. Controlling the price of drugs so consumers can actually afford them..... oh the humanity! In fact that is one of the most contentious things about the evil dastardly TPP which is presently trying to take over the Pacific region, is that multinational drug companies would be able to sue the Australian gov for lost profits over it's price controlled PBS. 

India has nothing like the Australian PBS. The place is full of massively poor people living on $2 a day, of course the gov is going to move to make medicines more affordable for such poor people. That's what a gov is supposed to do, look after the people.

Yet what is the response from the drug companies? Compassion for all these people who desperately need assistance? Agreement and help provided by the companies to aid in this new venture of medical care? Oh of course not. Their reaction is something akin to abject horror:

India has capped the prices of more than 100 drugs used to treat diseases ranging from diabetes to HIV, a move likely to hit the profit margins of drug firms such as Sanofi SA, Abbott Laboratories and Ranbaxy Laboratories Ltd. 

The drug pricing regulator's decision, aimed at improving affordability, was slammed by the drugmakers in India, where prices of generic drugs sold are already low compared with international markets. 

India, an emerging market for drugmakers, last year raised the number of drugs that are subject to price control to cover up to 30 percent of the total medicines sold in the country, according to industry officials. 

"While we appreciate the government's intent to improve affordability ... the manner and method in which this unilateral decision has been taken, is untenable," Sanofi India's Managing Director Shailesh Ayyangar said on Monday. 

"We are evaluating the impact of this order on our ability to continue offering our products with the same value proposition," he said, adding the decision has "shocked and disappointed" the pharmaceutical industry. more 

A laugh about the prices of drugs already being low in India (oh the humanity!). Um, so are the wages.....