‘Simple resolutions for the new year’
Ranjit Shahani, Vice Chairman and Managing Director, Novartis India

2013 has been a particularly challenging year for industry, pharma industry included. From a slack economy to runaway prices we have seen it all. Low gross domestic product (GDP) growth and deferred capital investments meant that India had a tougher job than anticipated. The uncertainties that abounded only served to add fuel to a fire that was all but raging.

The authorities kept the price control under suspense and until the drugs price control order (DPCO) was finally announced it kept hanging like a Damocles sword. Once announced there appeared to be complete lack of clarity for a while with several members of the industry going to court over the impracticality of the time limit to withdraw drugs, re-label them and have them back in the market with the new prices. Revenues were severely impacted and the trade did little to ease the situation and stood their ground over their reduced margins even though the new margins were dictated by government. Speculation was rife in the media about more compulsory licenses to come and this only served to stoke the embers.

Implementation of intellectual property continued to be plagued by uncertainty. The Glivec patent was lost in the Supreme Court. The Merck Glenmark patent row only served to exacerbate the global view that India’s patent environment was volatile and uncertain. Extreme views on FDI in pharma made one wonder if India was actually going back in time.

We are stepping into 2014 and with the New Year comes new hope. National elections of course means that the next six months will see little meaningful business being transacted as all political parties get into election mode. And yet there is hope. Hope that once we have a new government in place we will see positive traction in the economy. That we will move forward to move further up the value chain across industries and that the economy will see growth that is nearer double digits.
The innovative pharma industry hopes for more predictability in the manner in which intellectual property rights are implemented and for more transparency and growth. New years are a time for making resolutions and while companies are constantly going through periods of self-renewal this becomes a time to introspect. At Novartis in India we would like to see more partnerships with multiple stakeholders as we work towards a common goal of healthcare for all. We would certainly like to see a higher work ethic from all segments of society. We would like to see better engagement with NGOs and less rhetoric.

Like most others I too look at making personal resolutions for the new year. What will be my resolutions for 2014? Well, I would certainly like to be able to exercise greater control over the choices of what I eat so that I eat right and eat healthy. Health is truly our greatest wealth and as societies get more developed we tend to opt for richer and better foods that are not necessarily good for us. More than anything else, I would like to make time to do the things I enjoy. To find time to paint,visit art galleries and enjoy looking at works of others. I would also like to find more time to spend on listening to music. I am an ardent lover of music and spending time on this gets increasingly harder.

I believe, and rightly so, that in the stress of our everyday lives and as we chase chimeral goals we lose track of the simpler things in life. Things that bring us true joy. My advice to the younger generations is this – make sure you always find time for meaningful and simpler things in life; the things that you will truly cherish and bring joy to others.