India, US have signed two MoUs today, on e on strengthening cooperation on mental and emotional well-being, and another on generic medicine.
In India there is a lack of understanding and caring for mental and emotional issues as health care issues, while in the US there exists a strong culture of researching and treating mental and emotional well being issues as health care issues. This MoU will enable India to learn from US’s experience in this field.
MoU on Mental Health
There is a provision in this MoU to use traditional therapies and medicines to address mental well being issues. This will facilitate a greater access of Indian traditional therapies and medicines to the large US market.
MoU on Generic Medicine
Another MoU on strengthening cooperation in the generic medicine regime has also been signed. US has among the largest market in the world for generics drugs and India is a large producer of generic drugs.
This MoU will allow India to learn from one of the most sophisticated and advanced regimes on food and drug protocols and improve access for our generics in the US market as well benefit Indian consumers by ensuring higher standards of generic drug standard compliance.
AdvaMed Welcomes the MoU
“AdvaMed and its member companies welcome and appreciate the recent Memorandum of Understanding between the U.S. and India on oversight of medical products. The MoU will strengthen bilateral cooperation on globally harmonized regulatory systems that promote and protect public health. AdvaMed is aligned with the India government’s larger goal of ensuring access to quality medical technologies, and regulatory structures that are innovation friendly, predictable and transparent. This MoU will facilitate the global medical technology industry’s efforts to ensure patients and providers have access to safe and effective medical devices and diagnostics that save and improve lives, and a health care ecosystem that is conducive to research, innovation and manufacturing for the benefit of patients in India.”, said Abby Pratt, Vice President, Global Strategy and Analysis, AdvaMed.
The Advanced Medical Technology Association (AdvaMed), is a trade association that leads the effort to advance medical technology in order to achieve healthier lives and healthier economies around the world. AdvaMed’s membership has reached over 400 members and more than 80 employees with a global presence in countries including Europe, India, China, Brazil, and Japan. AdvaMed’s member companies range from the largest to the smallest medical technology innovators and companies. The Association acts as the common voice for companies producing medical devices, diagnostic products and digital health technologies