KATHMANDU, September 3: Pharmaceutical drug producers have said that Nepal can be self- reliant in drugs if the government brought amendments in the relevant laws to promote domestic pharmaceutical companies. They have demanded bringing amendments in the Drugs Act, 1978 BS.
During an interaction held at the Federation of Nepalese Chamber of Commerce and Industries (FNCCI) Secretariat on Thursday, the drug producers stressed on the need to bring amendments in the relevant laws and the Acts that have hindered the development of drug industries in Nepal.
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It is estimated that the size of the drug market in Nepal is between Rs 45 billion to Rs 50 billion a year. However, the domestic production of pharmaceutical drugs is just half of the total demand.
It is said that the drug market in Nepal is increasing by almost 20 per cent every year. Some Nepali drug manufacturing companies have also started exporting their products despite legal difficulties.
On the occasion, FNCCI President Shekhar Golchha urged the drug producers to cooperate with the government to ensure successful implementation of the National Economic Transformation-2030 unveiled by the FNCCI to help promote the country's economic growth.
Chairman of Association of Pharmaceutical Producers of Nepal Prajjwal Jung Pandey argued that the country can be made self-reliant in the field of drug within next few years if the government extended full support to this sector.
(With inputs from RSS)
