India Gov't May Subsidize Pharma Quality Upgrades
According to the Financial Express, the Indian government may offer a financing scheme to its domestic pharmaceutical industry -- which is currently facing numerous quality issues with the U.S. FDA -- to upgrade manufacturing facilities and meet stringent standards of the world's leading export markets.
Sources speculate that an interest subsidy scheme for pharma manufacturing facilities will be included in the FY 15 budget.
The move to provide fiscal assistance for plant upgrades comes at a time when the Indian pharmaceutical industry -- which has the the largest number of FDA-approved manufacturing facilities outside the U.S -- has been plagued with import alerts and quality issues from prominent manufactureres such as Wockhardt, Sun and Ranbaxy.
Read the Financial Express article