New Delhi
Pharmaceutical companies may have to shell out more to do business in India. The government has proposed an over five-fold hike in regulatory fees for testing, manufacturing and selling medicines in the country, a move that is likely to impact both domestic as well as multinational pharmaceutical companies operating here.
The health ministry has proposed to increase site registration fee for importing medicines to $10,000 from $1,500. The fees for registration of such imported pharmaceutical products is likely to go up to $5,000 from $1,000. The government has proposed a steep hike even in case of locally manufactured medicines. For any new product registration, companies may have to pay a fee as high as Rs 2,50,000 as compared to Rs 50,000 now.
