Subramaniam vs Subramanian: Has profit taken precedence over people?

Saurabh Chandra former secretary, Ministry of Petroleum and Natural Gas goes beyond the sensational tweet two months ago.

He says there is a longtime strategy of US medicine companies to undermine efforts to make medicines cheaper in India:

The private assurances supposedly given by the Indian government to the United States-India Business Council that it would not grant compulsory licences to Indian drug makers for commercial purposes except in cases of public health emergencies negate the intent of the Indian intellectual policy regime to work patents in India and provide affordable medicines to people.

Has profit taken precedence over people? This is a deep philosophical question which attracted philosophers to economic thinking. Each generation has been looking at this question and there is also this feeling that greed has risen in their generation. Some say profits matter as that is what keeps companies trying to move ahead on the innovation curve. Others say obsession with profits undermine the whole idea that if these innovations do not reach people for their high prices, what is the point?

Having said this, there should be efforts to make medicines cheaper. The rising prices continue to pose a threat to the very lives medicines seek to save!!

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