No more cheap drugs from India after 2005
Top India companies supply cheap but quality drugs and medicines to Sri
Lanka. However that source could dry up in 2005 when patent laws become
effective under the World Trade Organisation rules (WTO) regime.
“At the moment we don’t have patent laws. Indian companies are free
to synthezise any western drug using a different process in the manufacture
and sell it much cheaper that the original product,” noted Ganesh Nayak,
president of India’s Zydus group of companies.
The freedom from patents ends in 2005 under WTO regulations and that
would restrict Indian companies synthesizing western drugs. This in turn
would increase the cost of drugs, particularly to countries like Sri Lanka,
Nayak said during a visit to Colombo last week.
Zydus is among India’s five top healthcare companies. Nayak was speaking
to the media during a launch of three anti-viral AIDS drugs, which prolong
the life of HIV/AIDS victims. The drugs are to be retailed at Rs 3,000
per month per patient compared to an identical drug in the market that
now sells at Rs 8,000 per month per patient.
Zydus and Lanka Medical (Imports) Ltd, the Indian company’s local marketer,
have had negotiations with the government in a bid to supply the state’s
entire requirement of these drugs for victims seeking treatment from state
medical services. The drugs, to be sold by Zydus Cadila Health Care, a
Zydus subsidiary, will be available in the market next month.
Nayak said Indian companies were able to produce drugs much cheaper
than western multinational companies because the cost of production in
India was low. Expensive research and development by western companies
also results in high costs of drugs.
“All this will change in 2005 (in India) when the patent laws come into
force. What I envisage happening is that more and more western companies
will tie up with Indian drug firms for marketing and distribution,” he
said adding that drug multinationals may also either shift their research
labs to India or establish separate units there as a cost-effective measure.
The high cost of drugs is a major issue in Sri Lanka, patients say.
Last month the government allowed the State Pharmaceuticals Corporation
to resort to what is called “parallel imports” from cheaper supply sources.
There are thousands of branded drugs in the market and medication like
paracetamol for instance can cost between 25 cents to Rs 1,50 per tablet
depending on the brand. Civil society groups have appealed to the authorities
to bring down the cost to patients by urging doctors to prescribe a generic
name and a choice of brands from which the patient can select depending
on his or her spending power. (FS)
SriLankan flying high despite turmoil
SriLankan Airlines says it was recently voted eighth in the Top Major Airline
category in the travel awards for 2001 announced by Wanderlust magazine
of the UK.
It said in a statement this was a significant award for SriLankan Airlines
since the top ten places in these travel awards are usually awarded to
the ‘big players’ in the commercial aviation industry.
Wanderlust is a bi-monthly travel magazine in the UK and announces annual
travel awards based on reader surveys.
SriLankan Airlines with a percentage of 82.5 came eighth after Singapore
Airlines, Emirates, Thai Airways, SAS, Air New Zealand, Virgin Atlantic
and Cathay Pacific and ahead of LanChile and Swissair.
World Bank biggest funder of health projects
The World Bank is the world’s largest external funder of health programs,
a bank statement said. Providing poor people with basic health and nutrition
lies at the heart of reducing poverty and promoting economic growth.
While important gains have been made in many countries during the last
few decades, major challenges remain. Of the 11 million children who die
each year in developing countries, around 70 percent die from communicable
diseases (such as pneumonia, diarrhoea, malaria, measles, and HIV/AIDS)
and malnutrition.
The World Bank commits an average of US$1.3 billion in new lending each
year for health, nutrition, and population projects in the developing world.
Bank funds are helping to combat malaria in 46 countries and tuberculosis
in another 25. In Mali, a Bank-financed health project helped to establish
300 new community health centers.
In China, the Bank has helped provide iodized salt to more than 90 percent
of households, ensuring that millions of families will benefit from significantly
fewer cases of miscarriage and stillbirths, physical deformity, and mental
retardation caused by iodine deficiency.
New standards for garments sector
A seminar to introduce supply Chain Management System (CSM 2000), new standards
for the garments and textile manufacturing sector was organised by the
Sri Lanka Export Development Board recently.
The CSM improves product specific requirements such as health and safety,
quality, assurance, environment performance, social accountability and
compliance with trade regulations in companies, which would be essential
in the international market.
Around 75 participants were present at the seminar which was conducted
by the experts from Eco Text Germany, a consultancy specialising in the
textile and apparel sector.
Commercial Bank minority shareholders uncertain
LETTER
Shareholders of Commercial Bank must be relieved after receiving a letter
from its chairman Mr. Mahendra Amarasuriya assuring that minority shareholders
concerns would be fully addressed before consenting to any change of the
present status of the bank.
Mr. Amarasuriya’s action should be an example to director boards of
other banks/companies that have been taking the interests of minority shareholders
for granted.
At least now Commercial Bank shareholders can be assured that the rumoured
proposals that would have reduced the banking giant to a mere subsidiary
would not be approved without a proper study.
Opinions expressed so far on this issue have mostly referred to the
damages that can befall Commercial Bank and its minor shareholders while
the major shareholders were going to benefit.
For this very reason, I believe that chairman and directors of Commercial
Bank will abide by the word and spirit of their letter to shareholders
and take every step to ensure a honest and unbiased feasibility study is
done to clear all doubts and allegations made in the newspapers from time
to time about an underhand deal in the proposal.
D.L.C. Fernando
Mattakkuliya.
Super Weekend Packages for HSBC Credit Cardholders
With the regular tourists pre-occupied with the current world political
situation, Sri Lankans have increasingly acquired the wide run of local
hotels, enjoying the beauty and heritage spots of their own country. HSBC,
which has always encouraged Sri Lankans to discover and savour this beauty
through its credit card promotions, has once again come up with a series
of holiday packages by which its customers will benefit a press release
said.
From 24th - 28th October the bank gives concessions of up to 40 per
cent and exclusive privileges on offer at Hotel Ceysands and Bentota Beach
Hotel as well as The Lodge and The Village at Habarana the press release
further said.
These weekends have been specially catered for to ensure that HSBC’s
customers have a fun-filled action-packed weekend! The kids especially
will be treated to a never-to- forgotten holiday that they will love to
re-live with friends at school! Boat rides, water sports, exciting games,
excursions to important heritage sites - these are some of the attractions
tucked into these exciting holiday packages!
Previous HSBC Super Weekends for this year have included discounts,
prizes and surprises at Millennium Park, Hameedias and Vogue Jewellers
sales outlets. More of these promotions have been planned for the near
future!With over 95,000 in their card base, HSBC has always striven to
introduce novel ways of adding value to all its cardholders throughout
the year. This bank is one of the largest financial services organisations
in the world. With over 6500 offices in 78 countries and territories worldwide,
HSBC serves more than 25 million customers.
Jetwing Holidays offers array of packages
Jetwing Holidays the outbound arm of Jetwing Travels announces an array
of packages for the coming season a press release said. Some of the recently
concluded tours include Greece, which was attended by 15 pax. The tour
was led by Nalin Ariyaratne, Manager of Jetwing Holidays.
At present 15 pax are on a tour to Egypt organized by Jetwing Holidays.
The tour aims to cover Pyramids of the ancient civilizations and go on
the luxurious Nile Cruise for 10 days. The tour was led by Shehani Alles,
Executive of Jetwing Holidays.
In addition Jetwing Holidays specialize in handing tailor-made tours
and group tours on a regular basis and they take handle at the visa formalities
and docume-ntations.
They also are currently having a cross promotion with HSBC Credit card-holders
offering special discounts. The Jetwing Holidays team could be reached
on the email: holidays @jetwing.lk or Phone: 074-715607 or 074-714827 Fax:
075-545710.
Novel management model by CIM Lanka
Dr. Uditha Liyanage, then Chairman of the Chartered Institute of Marketing
(CIM) Sri Lanka recently presented a novel model adopted by the local branch
in managing its activities at the Annual Chairmen’s Conference in the UK.
CIM Sri Lanka has two central Core Processes - Student Development and
Continuing Professional Development for members. These core processes are
supported by three processes, namely Membership Development, Public Relations
and Networking. Each of the five processes is managed by a Process Team
Leader and three process owners.
The process based approach to Branch Management of CIM Sri Lanka has
been benchmarked by CIM branches elsewhere in the world.
LB’s official stall at the “Marketing Show 2001”.
LB Finance was the official financier, for the “Marketing Show 2001” which
was held from the 11th October to the 14th October 2001 at the Exhibition
& Convention centre. Seen here is the unique stall which was designed
and fabricated by M/S Sing-tech Advertising Services (Pvt) Ltd.
DSI launch unique imported ladies footwear
D. Samson & Sons Limited, the marketing arm of Sri Lanka’s leading
footwear company DSI recently launched an exciting international range
of ladies footwear under the promotional banner “Personality Walk” through
their exclusive outlets at Liberty Plaza, Majestic City, Crescat Boulevard
and their top showroom at Dalada Veediya, Kandy a press release said.
The range covers an extensive design profile from casual to formal wear,
whilst offering customers a wide choice in value the press release further
said.
In selecting these designs, DSI footwear designers personally visited
the factories abroad and worked side by side with International footwear
designers to present the Sri Lankan personality to these International
designs.
This combination of Sri Lankan taste combined with international quality
and value has enabled DSI to successfully present a collection of ladies
footwear targeted at the middle and upper segments of the market.
A spokesman for the company said, “The designs available are unique
and will only be available through selected outlets. We hope to keep introducing
new designs throughout the Ramazan and Christmas season. We are talking
of over 50 different designs in three months”. Priced reasonably the October
selection which was introduced recently has attracted a large interest
from the design and value-conscious market. Most customers were of the
opinion that there was no need to purchase footwear abroad as in Sri Lanka
there was now an equal or better choice.
The footwear promotion will continue till 31st December 2001. |
