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AIOCD To Float 10 State Wise Pharmacy
Retail Chain Cos By 2008
The All Indian Origin Chemists and Distributors Ltd. (AIOCD),
the company floated by All India Organisation for Chemists and Druggists (AIOCD),
is planning to float 10 state wise pharmacy retail companies by January 1, 2008.
The move comes as the part of AIOCD's plans to set up 30 companies over the
country within two years.
The 12-state affiliates of AIOCD, in West Bengal, Bihar,
Orissa, Assam, Tamil Nadu, Rajasthan, Delhi, Himachal Pradesh, Punjab, Hariyana,
Gujarat and Madhya Pradesh has informed the national body that they are ready to
float retail chain pharmacies in the respective states soon. Out of these
states, 10 affiliate bodies will set up limited firms by January 2008, according
to sources from the organization. The state affiliates of AIOCD in Maharashtra
and Kerala have already announced to roll out their companies by April 1, 2007.
In a bid to ensure adequate funding for these plans, the
organization targets to collect Rs. 20 crore through equity shares, for which
the formal procedures are currently on the way, informed J S Shinde, general
secretary of AIOCD. The AIOCD Ltd. will act as the supervising and nodal agency
for the companies under the state associations.
The AIOCD will sign an agreement with Accenture, the US-based leading business
consulting company, by the second week of March to ease the procedure of
launching state wise companies. The organization has already appointed Ernst &
Young as consultant to guide small drug retailers through the transition
process.
(Ref : Chronicle Pharmabiz dated March 8, 2007)
Companies Look To Gain From Budget
Proposals
While welcoming the proposals in the budget for pharma and biotech sectors,
albeit with some disillusionment, leading industry players are now looking to
grab the most out of the new measures, especially the hike in healthcare sector
allocation.
"The announcement of grater fund allocation (Rs. 9947 cr) for National Rural
Health Mission and the cause for grater public-private partnership is an
important step in the right direction," said Ram Sharma, MD of Becton Dickinson
India.
"BD India has in the past been partnering with National AIDS Control
Organization, Indian Academy of Paediatrics and Hindustan Latex Ltd. in areas
like patient safety and Aids control. We would also like to forge new
partnerships with the government in areas like controlling diseases like
tuberculosis and malaria. The convergence of key public health issues such as
immunization, malaria and tuberculosis would also help build scales and
efficiency in addressing these key concerns areas of public health," he said.
"The decrease in the peak rate of duty especially for medical devices and
equipment to 7.5% is very encouraging since it will reduce treatment costs and
make critical care more affordable for the patients. Currently, over 65% of
India's need for medical devices and equipment is met through import; therefore,
the reduction in duty rates will encourage more players in the medical devices
sector," said Sharma.
"The over all direction of the budget is positive for the pharma sector. Indian
pharma sector has the potential to play a larger role on the global map and the
present budget recognize this. We were expecting a reduction in the excise duty,
which would have supported the local manufacturers, with the potential to make
drugs more affordable for Indian patients but that has been ignored. As a whole
initiative announced for the pharma sector will spur growth in the right
direction," RC Juneja, MD of Mankind Pharma said.
(Ref : Chronicle Pharmabiz dated March 8, 2007)
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