Category — Healthcare

Abbott India’s Sales and Profits Rose Last Quarter

Net profit of Abbott India rose 34.86% to over $17 million in the quarter ended December 2017  compared $14 million during the same quarter of the previous year.  Sales rose 18.08% to over $136 million  in the same quarter  compared to  $116 million during the previous quarter that ended December 2016.

 Medication

 

 

February 16, 2018   No Comments

India Simplifies Licensing for Medical Device Manufacturing

Per India’s Medical Device Rules, 2017 that came into effect in January this year, new licenses awarded for manufacturing and import of medical devices will not need periodical renewal and will remain valid until they are either suspended, cancelled, or surrendered. The licensee will need to pay a retention fee once every five years for the license to remain valid.

India’s federal regulator, the Central Drugs Standard Control Organization has launched Sugam, an online portal, to facilitate granting licenses for manufacturing, import, clinical investigation, sale and distribution of medical as well as in vitro diagnostics devices.

Authorities will inspect manufacturing sites  annually ensure compliance to the terms and conditions stipulated in the licenses. Manufacturers are required to follow a quality management system for manufacturing medical devices.

Blood pressure monitor

February 15, 2018   No Comments

Israel, India Agree to Promote Homeopathy

During the Israeli Prime Minister Benjamin Netanyahu‘s visit to India in January, India and Israel signed a memorandum of understanding to enhance cooperation and boost research in homeopathy, a system of alternative medicine.

The agreement to collaborate is between India’s Central Council for Research in Homeopathy, the Ministry of AYUSH, and Israel’s Center for Integrative Complementary Medicine at the Shaare Zedek Medical Center, Jerusalem.

homeopathic meds

The MoU will also establish a joint working group.

February 7, 2018   No Comments

India To Extend Healthcare to 100 Million Families

In the annual budget for 2019, India’s minister for finance, Arun Jaitley, announced a National Health Protection Scheme that will provides health insurance coverage for 100 million of India’s most vulnerable families up to 500,000 rupees, or about $7,825 each year, an amount in India that would cover the equivalent of five heart surgeries. With approximately 500 million beneficiaries, “this will be the world’s largest government-funded healthcare program,” Jaitley told parliament in his speech. “The government is progressing towards a goal of universal health coverage,” he added.

Jaitley also announced the creation of Health and Wellness Centers, which will “bring healthcare closer to home.” 150,000 such centers will provide comprehensive health care for non-communicable diseases, maternal and child health services, essential drugs, and diagnostic services. $314 million has been allocated for this in the current budget.

Additional funding may be channeled via Corporate Social Responsibility programs, and philanthropic institutions will be encouraged to “adopt” some of these Health & Wellness Centers.

Picture of India's finance minister Arun Jaitley

Arun Jaitley, minister for finance, India

“This is huge. It’s the biggest step the government has taken in 20 years in health care,” said Dr. Ajay Bakshi, the former chief executive of Manipal Hospitals, a chain of 16 private hospitals based in Bangalore.

India spends a little over one percent of its GDP on public healthcare — one of the lowest proportions in the world — a sum the government is aiming to increase to 2.5 percent by 2025. Currently the government provides $470 toward healthcare for poor families, but that sum is insufficient to cover most medical procedures. Jaitley stated that the government was “seriously concerned” that millions of Indians had to borrow or sell assets to receive adequate treatment in hospital.

The government will levy a surtax that will raise about $1.7 billion a year specifically for health care programs, as well as introduce a new tax on capital gains. Jaitley added that 24 new state-run medical colleges will be set up, and rural hospitals will be upgraded.

February 1, 2018   No Comments

Pfizer, India’s Council of Medical Research to Address Antimicrobial Resistance

New York City-based Pfizer and state owned Indian Council of Medical Research (ICMR) have partnered to establish a center in New Delhi to combat antimicrobial resistance in India. The joint initiative will implement a series of comprehensive interventions, ranging from programs for training staff in the healthcare sector to scaling up surveillance networks, and creating awareness around the responsible use of antibiotics. Pfizer has provided an initial grant of  $1 million  for this initiative with a provision to scale up as the program expands.

Logo of Indian Council of Medical Research

“It is important to channel all necessary resources in developing, implementing and monitoring antibiotic resistance to minimize its adverse impact, which is posing a huge threat to both health and food security. Infections such as pneumonia and tuberculosis are becoming difficult to treat due to decreased effectiveness arising out of the irrational usage of antibiotics,” said K. VijayRaghavan, secretary, Department of Health Research and director general, ICMR.

Recognizing antimicrobial resistance as an important area to tackle, the government finalized a National Action Plan on Antimicrobial Resistance last year which recommends six strategic priorities including improving awareness through communication, education and training, strengthening surveillance, and promoting investments for initiatives in this project.

January 31, 2018   No Comments