Fortis row: Regulator who said hospitals inflated drug prices transferred

On March 1, 2018, Bhupendra Singh, the head of the National Pharmaceutical Pricing Authority (NPPA) with a year of his tenure left, was transferred to the National Authority for Chemical Weapons Convention, sparking protests from pro-access activists. They alleged that an “industry and hospital lobby”–mainly large multinational pharmaceutical companies and corporate hospitals–was behind the transfer.

The NPPA is the government agency responsible for setting prices of drugs and ensuring drug availability. Singh had been at its helm since 2016, and under his watch, the prices of cardiac stents were slashed by upto 80% last year.

News digest: S&P holds India rating, insolvency ordinance, and more

S&P refuses to do a Moody's; maintains status quo on India's rating

Credit rating agency Standard & Poor’s (S&P) on Friday retained India’s sovereign rating at the lowest investment grade with a stable outlook. It attributed its decision to a weak fiscal position, particularly of states, high government debt, and low per capita income.

S&P’s rating remains at BBB-, one notch above junk and a notch below what Moody’s Investors Service upgraded India to recently. Read more

India needs to look beyond Buenos Aires, says Suresh Prabhu

With a little over a fortnight left before the World Trade Organization’s biennial ministerial conference gets underway at Buenos Aires in Argentina, Commerce and Industry Minister Suresh Prabhu tells  that India should focus on strategising how to scale up its exports in tandem with the economy reaching the $5 trillion mark in less than a decade. Read more

Cancer, cardiac among 51 essential drugs under NPPA price cap

National drug pricing regulator NPPA on Friday said it has capped prices of 51 essential formulations, including those used for the treatment of cancer, pain, heart conditions and skin problems. The prices have been slashed in the range of 6 to 53 per cent. Read more

Insolvency Code ordinance: Promoters' loss is PEs' gain

Private equity (PE) players are getting ready to bid for stressed assets, which they expect to bag at attractive valuations after an ordinance amended the Insolvency and Bankruptcy Code (IBC). The ordinance has practically barred most promoters of the defaulting companies from bidding for their assets in the bankruptcy auction. Read more
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