BioVoice News December 2016-January 2017 Issue 8 Volume 1 - Page 20

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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
BioVoiceNews | December 2016 - January 2017