| |MARCH 20249DRUG QUALITY FAILURES LINKED TO POLITICAL BOND DONATIONSTRANSGENDER HEALTHCARE MONITORING COMMITTEE FORMED BY BMCThe Brihanmumbai Municipal Corporation (BMC) has set up a ten-member committee to monitor the healthcare facilities and challenges faced by the transgender population in civic-run hospitals. The committee, comprising doctors from gynecology, urology, psychiatry, endocrinology, plastic surgery, general surgery, and forensic departments, will have monthly meetings to discuss and address the healthcare concerns of the transgender community. Amar Jesani, editor of the Indian Journal of Medical Ethics, has stated that state and central-level drug regulators often display a lax approach. He added that pharmaceutical companies may be financing political parties to negotiate regulatory cases at the state level.Experts have pointed out that the pharmaceutical industry seeks concessions from governments in drug regulation and other areas, including cheap land, tax exemptions, favorable policies, or removal of price caps.The unique codes of the bonds that match the donors and recipients will be made public in due course, bringing more transparency to the motivations behind these firms' donations to political parties. Nonetheless, experts have stated that drug companies play a significant role in political finance, which is noteworthy.According to S. Srinivasan, an All India Drug Action Network activist, these companies have invested hundreds of crores in political parties, and it is unlikely that they did so purely for the love of democracy, elections, or charity. PORecent data released by the Indian Election Commission on March 14 reveals that around 35 pharmaceutical companies in India have contributed approximately Rs 1,000 crore to political parties through electoral bonds. Among these companies, at least seven are under investigation for substandard drug quality at the time of the bond purchase.The Drugs and Cosmetics Act of 1940 regulates the manufacture of pharmaceuticals in India, and state-controlled Food and Drug Administrations are empowered to inspect manufacturing units and test the quality of medicines sold.While any state Food and Drug Administration can send notices to a company in case of failed quality tests, any punitive action, such as suspension of manufacturing or cancellation of a manufacturing license, can only be taken by the state in which the company's factory is located or by the Centre.For the past eighteen months, Gujarat's pharmaceutical companies have been grappling with concerns over price erosion in the US market. However, recent developments indicate a welcome resurgence in their US market revenues. Over the last three quarters, from April to December 2023, prominent players in the industry have witnessed significant growth in their US market business, which is a positive turn in their fortunes.Insiders from the industry reveal that the US market has been a primary driver of revenue growth for these major companies, along with the Indian market.During this period, Zydus Lifesciences Limited achieved robust double-digit growth of 18.7 percent in its US formulations business compared to the same timeframe in 2022. Similarly, Sun Pharmaceuticals Limited saw a 13.9 percent increase in US market revenues. In comparison, Alembic Pharmaceuticals reported a 7.5 percent growth in its US business revenues for the first three quarters of the fiscal year.Industry experts attribute the growth in their US revenues to easing price erosion concerns in the market. Price erosion is the continued fall in the price of a product over time due to pressure from customers and competitors. According to a top industry source, price erosion has slowed to a "low single-digit" level in the US market. PO
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