Indian Government’s new dose of strong medicine to bring cheers to Foreign Pharma CEOs who cut their teeth by struggling to convince Indian pharma to change sales practices

Good news for all Foreign CEOs of Global Pharma’s who left India after learning that, in India drug sales are driven by Freebies, and no one would listen to their advice to mend sales practices and unethical marketing practices.

Indian Government issues a strong dose of medicine . The new norms to hold pharma MDs, CEOs responsible for offering freebies to doc.

Under new guidelines drug firms will be barred from offering freebies to doctors — free travel tickets, hotel stay, gifts and hospitality, and the like. If any drug firm is found violating these guidelines, the responsibility would lie squarely with the MD and CEO of the respective company.

Further, the drug firms concerned may be prohibited from using brand names of competitive products in their promotional activities trying to claim superiority for its products.

The new guidelines would also prohibit drug firms to get doctors to endorse their products both online and offline

 

New Momentum Teams with Oracle to Help Reduce Counterfeiting in the Life Sciences Industry

New Momentum, a leading provider of SaaS‐based anti‐counterfeiting and channel integrity solutions, is working with Oracle to help pharmaceutical companies combat the escalating problem of counterfeit drugs and meet new regulatory compliance requirements.

According to the Center for Medicine in the Public Interest, worldwide pharmaceutical counterfeits are expected to increase by 13% annually nearly twice the pace of legitimate drugs. This means that counterfeit drugs could become a $75B industry by 2010. As these bad drugs flood the market, patient wellness is at risk and so are manufacturers’ revenues and brand reputation. This growing counterfeit problem, combined with the expected federal regulations for serialized drug products and electronic pedigrees, creates significant challenges for pharmaceutical companies.

New Momentum’s CEO, Stuart Clifton, commented, “The best way to meet these challenges is to incorporate internal enterprise and supply chain data with external data on counterfeit suspects and activity. That’s why we’re working closely with Oracle’s Life Sciences team to provide the first solution to offer pharmaceutical companies the ability to track units through the supply chain as well as quickly identify and find counterfeits.”
Oracle is focusing on helping manufacturers with a total solution that includes the ability to serialize each sellable unit and then track that unit through the supply chain via electronic pedigree. By integrating its 24/7 real‐time view of counterfeit suspects, New Momentum expects to help pharmaceutical customers be proactive in their anti‐counterfeiting efforts and comply with serialization and pedigree mandates. Prototypes of this solution will be demonstrated at Oracle OpenWorld, New Momentum Booth #2619A and Oracle Booth #S‐082 from October 11‐15 in San Francisco.