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The cashless economy will only hasten the progress of an advanced technology manufacturing industry like that of bioscience. However, the implementation of demonetization has to be streamlined with immediate effect.
As part of this, it has been decided that we need to move towards digital payments in case of pharmacies and as you will agree,
it is immediately doable. I would request that you all advise pharmacy shops, druggists, chemists and other players in supply chain to switch over to use of digital technology in their day to day affairs.”
Biotech industry welcomes the move
Mr P M Murali, President, Association of Biotechnology Led Enterprises feels that the demonetization will have long term effects.“ It reflects the government’ s willingness to engage and take transformative steps which is equally needed in this industry,” he said while making a point at an event in Delhi.
In her immediate reaction, Dr Kiran Mazumdar Shaw, Chairperson and Managing Director, Biocon had tweeted,“ Demonetization as a bold move which would allow us to leapfrog to a digital cashless world.” She later clarified in an interview with a leading daily that she is not saying it will be a zero cash economy but a less cashdependent world.” Healthcare marketing adopts novel moves
The cash crunch resulted in introduction of new innovative ways of delivering healthcare. Leading drug and medical device makers found unique ways to sell the products to customers. In January 2016, Mumbai-based drug maker Glenmark introduced easy monthly instalment( EMI) schemes on two of its cancer drugs, which treat prostrate and breast cancer. With the ongoing demonetisation drive, the company is offering two more topselling cancer drugs under the EMI scheme and may extend it to other drugs too. The new products on offer under the EMI scheme are breast cancer drug Fulviglen and prostate cancer drug Procabazi.
Patients can opt to pay for these drugs within three, six and nine months. Moreover, the company claims they will pay the processing fee of 2.3 % on credit card transactions. Another leading healthcare company, Medtronic, which manufactures
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BioVoiceNews | December 2016- January 2017