Link patented drug prices to per capita income: Panel

Agovernment panel has proposed that prices of patented medicines be based on the country’s per capita income, a move that would substantially reduce prices of costly drugs made by global pharmaceutical firms.

The proposal, which seeks the input of other government agencies as well as industry groups, could provoke the ire of Big Pharma, which has clashed with India over protection of intellectual property, price regulations for generic drugs, and compulsory licenses for costly medicines.