The Drugs Controller General of India, Rajeev Singh Raghuvanshi, stated that the decision was taken to facilitate the application process for the industry.
The decline in trade was attributed to a drop in consumer spending across advanced nations due to persisting geopolitical tensions and monetary tightening induced recessionary fears.
The executive chairperson of Biocon exhorts the government to revisit pharma price controls from a global perspective, in order to incentivise local manufacturing in the industry.
