Price Control Of Drugs Largely Ineffective in India: IMS health

As reported by PTI,

The report suggests a combination of healthcare financing and non-financing measures such as promoting joint and bulk procurement mechanisms and investment in capacity building be adopted by the government to address the issues of access and affordability.

Commenting on the findings of the report, IMS Health South Asia General Manager Nitin Goel said: "Price control has limited impact on improving patient access and, furthermore, is not aligned with the requirements of a vibrant economy like India."

Price control has also increased margin pressures for small and mid-sized companies, limiting both employment and investment opportunities in the sector, the report said.

Emphasising that price control measures have failed in other countries too, the report said: "These conclusions are corroborated by similar outcomes in China, the Philippines and South Korea, where price controls have consistently failed to improve overall access to medicines."

IMS Health is a  US based company that provides information, services and technology for the healthcare industry.IMS Health is best known for its collection of healthcare information spanning sales, de-identified prescription data, medical claims, electronic media records, etc.