PHARMACEUTICAL INDUSTRY-In Quest of High Technology

September 30, 1978 PHARMACEUTICAL INDUSTRY In Quest of 'High Technology' CONTROVERSY is at present raging on the implication of the term "high technology" as applied to the production of drugs. This is a sequel to the New Drug Policy announced by the Central government in March last. In accordance with this policy, firms engaged in the manufacture of drugs and coming within the FERA regulations have to bring down their, foreign equity forthwith to 40 per cent if these are engaged in the manufacture only of formulations, or of bulk drugs not involving "high technology", or of both. Foreign firms operating in this country, which are not keen on diluting foreign equity, are now battling over what institutes "high technology", for on this depends the continuance or otherwise of their majority foreign equity holding and the benefits derived therefrom.