Generic Medicines Rule Over Rs.1,20,000 crore Indian Pharmaceuticals Market: Government

• The total sales turnover Indian Pharmaceuticals products in the year 2012-13 was about Rs.1,20,000 crore which mainly consist of largely generics medicines. 
• It was stated by the Minister for Chemicals & fertilizers Shri Srikant Kumar Jena in Lok Sabha on Tuesday.
• As per Minister statement the total sales turnover of Indian Pharmaceuticals products, which are largely generics, was about Rs.1,20,000 crore in the year 2012-13. 
• Indian Pharmaceutical market is mostly of generic medicines. 
• The patented medicines have no generic versions.
• The Minister said that a Price Negotiation mechanisms Committee was set up for patented drugs . 
• The Committee’s report was put on the public domain for wider publicity for inviting comments from stakeholders, Observing the diverse opinion of different stakeholders received by the Government, an Inter-ministerial Committee of Joint Secretaries to look into the issues and to suggest ways and means to fix the prices of patented drugs in the country has been formed.