VIDEO - Shot in the foot with pharma price control: Shaw

Dr. Kiran Mazumdar Shaw, executive chairperson, Biocon Ltd and Biocon Biologics believes pharma price controls discourage local manufacturing as it is cheaper to import products. "We need to balance price control with reference to global prices. We cannot start controlling prices with only India in mind. That's one of the things that I want the government to think about because we are a part of the global supply chain. If we start forcing down prices that only contextualise India, we run the risk of surrendering the space to cheaper parts of the world," says Shaw.