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Change is everywhere. On one hand, we can see innovations in the field of science and technology; while on the other hand we observe a return to the ancient tradition. People all over the world are waking up to the need for Ayurvedic medicines and the stressing the importance of herbal medicines in curing or managing certain serious ailments. And India is the last country to realize the potential of this phenomenon, although it is here that the medicine was born.
However, better late than never, they say! And purists are now considering the importance of universal recognition for international promotion of herbal medicines. In a recent incident, almost 200 samples of herbal medicines bought from the Internet were tested by researchers of an American University and found to contain rich deposits of minerals and metals. This has come as a punch in the face of the herbal medicine market in India. For the first time, the Government is launching a quality checking program, a vigilance program unparalleled in the history of ancient Ayurveda. The Health Ministry has announced that all Ayurvedic doctors as well as patients can report any adverse effects of Ayurveda to a regulatory body that will investigate the matter and take legal actions against the company to ensure a ‘clean’ reputation for the Ayurvedic drugs.
The national research centre selected for this program is the Post Graduate Institute of Ayurveda at the Gujarat Ayurveda University, Jamnagar. There will be eight regional centres under this apex body that will report individual cases to the committee. The committee will cross check the cases before taking any decision. The committee will also report the case to the World Health Organization if the violation of norms is of serious nature. Such a pharmacovigilance initiative has also been taken in the past for preventing the corruption in the manufacturing and selling of modern allopathic medicines, but it yielded no result, thanks to corrupt doctors and irresponsible pharma companies.
For a $300 million market in India alone, and almost $1 billion world over, this was a move that had to come sooner or later. They say, “Health is wealth”. Better if India understands the potential of its traditional medicines promising heath to the individual and wealth to the economy!
Ayurvedic industry is gaining momentum in the Indian subcontinent and major pharmaceutical companies are diversifying their reach to cater to the growing demands of the herbal remedies. After Ranbaxy and Cadilla, the next big name to enter the Ayurveda market is Ipca Laboratories, a Mumbai based pharmaceutical company with assets of Rs1100 crore. However, the ayurvedic drugs are going to be marketed through a new subsidiary called Ipca Traditional Remedies that has been set up especially for the segment. The company has also invested Rs.20 crore for its new endeavour.
The targeted ailments that Ipca’s medicines promise to cure reveal an interesting story. Ipca launches medicines for acute viral hepatitis, anaemia, anorexia and fatigue. Later on, medications for asthma, bronchitis, nasal allergies, acute promyelocytic leukaemia and others would also be introduced. Ranbaxy and Cadilla had already started their herbal segment, and this time it’s Ipca. Ayurvedic drugs are already a rage all across the world. The entire industry stands at an estimated Rs. 6000-7000 crore. With a new entrant in the market, competition is going to be even tougher and that will only ensure global standards of manufacturing. Gradually, the small enterprises that thrive on the blind beliefs of people, encashing Ayurveda as a ‘6000 year old science of life’ will be wiped out. This can be good as well as bad. The good thing is that Ayurveda will get brand names and those still fascinated by the magical efficacy of modern drugs will revert to Ayurveda. The bad thing is that with the small companies losing out to brand competition, other small enterprises will be discouraged to enter the segment. This can cause growth of monopoly power in an increasingly disproportionate market.
However the sad part is that all these companies using Ayurveda as a means of diversification are using it only to boost up sales that modern drugs are failing to cover. Talk about India being the dumping ground for banned medicines from the US! These companies are focusing mostly on lifestyle and beauty segments. Let’s see what remedy for asthma Ipca can bring out.
In this respect, Asoka Lifescience Limited has done a plausible job by launching a unique drug for asthma. It’s one step above the conventional Ayurvedic segment. It’s called poly herbal and the tablet called Res-Q has been made by using a novel drug delivery system, after research and development done by Jadavpur University. Let’s see if the biggies will walk the extra mile and focus on finding out ways to relieve the people of more serious chronic ailements other than remedies to grow hair on a shiny pate or modifying the vital assets of the human body.
