Pharma industry to lower medicine prices

The Times of India reports that due to tie ups with laboratories and hospitals that will ensure faster turnaround and lower priced diagnostic reports, the pharma industry will soon be able to offer lower prices to consumers. The 32,000 drug retailers who are part of the Retail Dispensing and Chemist Association will see a significant rise in sales as small time chemists will not be able to offer the same discounts that they qualify for.

With all the interest coming from major players such as Reliance, Apollo, Subhiksha and Medicine Shoppe, these chemists are not taking any chances and are offering a host of freebies such as free medical check ups, concessional rates on drugs, testing reports etc.