While the industry ministry is yet to come up with a final policy on whether foreign pharmaceuticals firms are to be allowed to buy existing pharmaceutical producers (brownfield acquisition, in jargon), the case for not doing so is getting weaker by the day—and, by continuing to defer the $1.6 billion takeover of Strides Arcolab’s injectables unit by the US Mylan, the FIPB is sending out the wrong signal to potential investors waiting to bring in money into the country.
When the debate first began some months ago, the industry ministry argued that allowing such takeovers would result in local production getting curtailed and prices of drugs rising.
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Editorial: Vaccinating policy
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