Government establishes commission to control pharmaceutical companies' marketing strategies.
According to those with knowledge of the situation, the Centre has established a high-level committee to examine the nation's pharmaceutical companies' marketing strategies. They added that the committee will also consider recommending legally binding sanctions against companies engaging in misconduct.This panel will make recommendations to Mansukh Mandviya, the minister of health and family welfare as well as chemicals and fertilisers, regarding how to harmonise all the codes, rules, and regulations relating to pharmaceutical malpractices since they are currently divided among various departments. Additionally, it is vital to consider how these are made legally binding. The high-level committee was the minister's idea after it came to light that some pharmaceutical companies were allegedly spending excessive sums on the advertising and promotion of their products. The most recent allegation concerned the marketing budget for the anti-fever drug Dolo 650mg, which saw record sales during the second wave of the Covid-19 pandemic. Undoubtedly, some of those reports presented wildly exaggerated figures for marketing and PR expenditures, exceeding the company's revenue in Dolo's case, for example. However, the minister requested a study of pharmaceutical companies' marketing strategies generally. Many analysts claim that this is necessary.
Reference: - https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/government-forms-committee-to-regulate-marketing-practices-of-pharma-companies/articleshow/94350671.cms?from=mdr