The Centre has proposed waiving local clinical trials for drugs that have proved their efficacy in developed markets — newspaper Mint reports, citing government officials.
The drugs should have been approved and marketed for at least two years in the European Union, U.K., United States, Australia, Canada and Japan, the report said.
The move is expected to reduce time taken by a company to introduce new drugs in the market from five-six years to as few as 45 days, the report added.
Nifty pharma index climbed as much as 1.2%, after falling for eight sessions in 10.
Lupin Ltd. rises as much as 2.2%, Aurobindo Pharma Ltd. climbs up to 1.8%, Cipla Ltd. gains as much as 1.1%
Up to Wednesday's close, the Nifty pharma index had declined 7.9% this year.