Merck Serono supports India's drug pricing policy
Mumbai, February 13, 2014: Merck Serono is the latest pharma giant to support the lower pricing for emerging markets like India and has also opposed the concept of incremental innovation.
Mr Stefan Oschmann, Member of the Executive Board and CEO, Merck, Germany was recently quoted saying that some of the strategies used in the past were developing 20 products and slightly differentiating them. This doesn’t work anymore. Mr Oschmann also said that the global pharma industry needs to do its home work and governments across emerging markets have been trying to find a way to address the issue of the increasing access to affordable healthcare. The executive added that it is legitimate for any government to do so and what is important is that these rules shouldn’t be used as a tool to only foster local industry.
It may be noted here that Merck Serono’s pharmaceutical roots go back to 1668 and recorded sales worth Rs 686 crore in 2013 from Rs 383 crore in 2009. The company also has a tie up with Dr Reddy’s to develop biosimilar drugs.