A study of the pharmaceutical sector will identify the steps to stimulate competition and ensure the accessibility of medicines: head of the CCI

0

The fair trade regulator CCI will identify measures to strengthen competition in the country’s pharmaceutical sector to ensure the affordability of drugs after analyzing the results of its market study, which should be completed within a month, according to its Chief Ashok Kumar Gupta.

The Indian Competition Commission (ICC), which monitors unfair business practices and promotes fair competition between sectors, launched the study of the pharmaceutical sector after observing issues such as the lack of “effective consumer choice”.

Gupta said CCI is close to completing its study on the country’s pharmaceutical sector and it is expected to be completed within a month.

“After analyzing the results of the study, we (CCI) plan to comment on various aspects of the industry that may improve market results.

Currently, it appears that when it comes to drugs, competition is mostly on the basis of brands and not price. The study will identify measures to increase competition to ensure accessibility of medicines, ” the ICC president told PTI in an interview.

Market studies have been initiated in the pharmaceutical and telecom sectors, given their importance in the “ new socio-economic environment induced by COVID-19 ”.

Gupta noted that the study on the pharmaceutical sector was launched “due to observable problems on the demand side, such as the lack of effective choice of consumers”.

The watchdog supplemented the enforcement actions by commissioning market studies to gain a better understanding of market structures and competition concerns.

The Telecommunications Space Study was initiated amid rapid advancements in technology and rapidly changing market dynamics in the space which have become more pronounced due to the pandemic.

In 2020, the regulator completed its study on the e-commerce space with the aim of better understanding emerging competition issues as a result of the growing importance of platform-centric digital commerce.

The study found the bargaining power imbalance and information asymmetry between platforms and their companies among the emerging issues.

” Carrying out the advocacy mandate, CCI has pushed e-commerce platforms to institute a set of self-regulatory measures in certain areas such as research ranking, data collection / use / sharing, mechanisms for user preview, revision of contract terms and discount policy, ” Gupta said.

As the watchdog steps up its efforts to tackle unfair trading practices, the ICC chief also pointed out that implementing advocacy as a non-intrusive measure has enabled and brought about a grounded competition compliance regime. on trust, acceptable and inclusive to all stakeholders.

Considering that government policies and legislation, formulated with certain stated objectives, could inadvertently restrict competition, the regulator engages with the government to identify possible competition concerns.

“The ex ante competition assessment of draft / proposed legislation / policies to identify competition concerns and recommend pro-competitive measures is therefore a key area of ​​engagement with the government as part of CCI’s advocacy mandate”, Gupta said.

(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


Source link

Leave A Reply

Your email address will not be published.