Pharma companies should be ready to adapt to changing norms
: Israel Makov, chairman of Sun Pharmaceutical
Changing regulatory environment will be the norm in the pharmaceutical industry in the days ahead and companies should be ready to adapt, said Israel Makov , chairman of Sun Pharmaceutical , India’s biggest and the world’s fifth largest drug maker.
“Regulatory expectations are growing all the time. Some of the companies would like to grow at the same pace as the regulatory change, which is growing because of concerns over consumer patient protection,” Makov told ET in an interview on the sidelines of an Israel-India economic forum organised by industry lobby group CII.
The industry veteran, who in his last job led the world’s largest drug maker Teva , said the US drug regulator has adapted itself to consumers’ needs and companies, whether they like it or not, have to adapt if they want to stay in the game. Fast-changing regulatory environment also increases the price of entry to business, Makov said, adding that this is a good thing for existing players.
In the past two years, Indian drug makers have come under severe scrutiny from the USFDA for flouting manufacturing practice norms.
Source : The Economic Times