Saturday Nov 27, 2021
Saturday Nov 27, 2021
Civil Bank

'Nepal can be made self-reliant in drugs'

2021 Sep 03, 10:02, Kathmandu
An international pharmaceutical company has agreed to plead guilty in a US court and pay $50 million for deleting and hiding manufacturing records in India.

Stakeholders and drug producers have claimed that Nepal can produce a maximum of its drugs requirement within the country by taking appropriate policies to encourage domestic pharmaceutical companies.

The drug producers, however, have called for an amendment to Drugs Act, 2035.

At a program with the drug producers in the Federation of Nepalese Chamber of Commerce and Industries (FNCCI) Secretariat on Thursday, the speakers stressed the need for massive changes in the concerned laws and Acts that discourage the drug industries.

According to reports, the size of the drug market in Nepal is between Rs 45 billion to Rs 50 billion and domestic production is just half of the total demand. It is said that the drug market in Nepal is increasing by almost 20 percent every year.

However, some Nepali drug-producing companies also export their products.

On the occasion, President of FNCCI Shekhar Golchha urged the drug producers to cooperate for the successful implementation of National Economic Transformation-2030 unveiled by the FNCCI for encouraging the country's economic growth.

Likewise, the Chairman of the Association of Pharmaceutical Producers of Nepal Prajjwal Jung Pandey argued that the country can be made self-reliant in this field within some years if the government extended full support to this sector.


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