A new report by nonprofit group Initiative for Medicines, Access & Knowledge (I-MAK) exposes the prime offenders of the U.S. patent system, the pharma giants who are taking advantage of its loopholes to amass huge profits.
China opens up its pharmaceutical market to its rather hostile neighbor, India while Beijing and Washington have a tiff over President Donald Trump’s renewed warning of added tariffs on Chinese imports worth $200 billion.
The newly formed health insurance administration in China intend to deepen discounts on cancer drugs which were already on its National Reimbursement Drug List (NRDL) based on public bidding and procurement based on cancer therapies. In the meantime, officials will start enlisting negotiations for treatments which were not included on the coverage list.
The research team claimed that the effectiveness of drugs depends on the time of administration on a personalized level. Their goal was to identify the biomarkers in blood to characterize the ‘internal time’ of an individual.
After months of inspections, Indian Ministry of Health and Family Welfare have taken a decision to ban the import of Oxytocin in India from 1 July 2018. The government has restricted private manufactures to produce Oxytocin formulations for domestic use, only state-owned Karnataka Antibiotics & Pharmaceuticals Ltd. (KAPL) have been allowed to manufacture and directly supply to registered hospitals and clinics across India.
Determined to cap the profits of private hospitals in Delhi and the NCR region, Delhi health minister Satyendra Jain has announced an array of new rules. He clearly stated that hospitals will be mandated to sell essential medicines at MRP and can no longer charge a markup.
Though the US stands first in the race in terms of sales and growth, it is highly believed that China would reach the peak in the pharma market by 2022. At present, since there has been a decrease in public health funding, there has been a slight fall in pharmerging countries like Brazil, Russia, India and China (BRIC). But it is believed that the condition of these pharmerging countries will improve in the next five years .
The interest in Blockchain and distributed ledger technology (DLT) has exploded in recent years with a large focus on the financial industry. Meanwhile, medical and pharmaceutical companies around the world are looking to DLT as a means of solving, securing, and streamlining their businesses. While there are many applications for DLT within the medical industry, one area where the technology excels is within supply chains.
As 2017 draws to a close, we look back at a year where advances in pharmaceutical drug therapies brought new hope to people from across the globe. These steps forward bring with them a sense of suspense as we wait for more ground-breaking work to be accomplished in 2018. Here is Drugdu.com’s list of medical advances that amazed.
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