Budget expectations / wish list of Mr. KRN Moorthy, Deputy Managing Director, Wanbury Ltd

Hi,

 

Please find below the expectations and wish list of Mr. K R N Moorthy, Deputy Managing Director, Wanbury Ltd. from the Union Budget 2009.

 

Wanbury Ltd is among the fastest growing pharmaceutical companies in India and the world’s largest manufacturer of “Metformin” (A drug for Diabetes). Over the last year the Company has managed to get 4 of it’s products viz. Cpink, Rabiplus, Folinine and Adtrol in the ‘Top 5’ brands in respective segments.

 

Please find the attached Profile of Mr. KRN Moorthy with his photograph.

 

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Mr. K R N Moorthy:  Budget Expectations

 

“The pharmaceutical industry has been hailed for quite sometime now as the sunrise industry and we believe further impetus should be given to boost exports. Many of us in this industry have spread our wings in the regulated markets as well as the developing markets like Latin America and all this has called for considerable expenditure and investment. Increased exports would contribute significantly in boosting the country’s Forex reserve and towards this additional benefits and incentives should be favorably considered.

 

The future of Indian Pharmaceutical Industry lies to a large extent on successful R and D. We implore the finance minister to dwell in depth on this and offer large scale incentives so as to assist in pharma companies to continue and even further expand their R and D initiatives.

 

The government has been considerate from time to time on import duties of life saving drugs but we will be happy if this is extended to a wider spectrum. A further reduction in excise duty will directly result in a greater economy to the patient.

 

While in the midst of trying times we would appreciate if the government adopts a far more favorable approach to corporate as well as personal taxation. Expectations are high that the finance minister will further reduce personal income tax and there by bring a smile on the faces of crores of salaried employees who are currently experiencing the depression of recession. This gesture from the finance minister is eagerly awaited.

 

Having elected a majority government at the centre we have high expectations from this budget and we hope they will be realized.”

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Kindly let me know if you need any further information regarding Wanbury Ltd.

 

 

 

Best Regards,

 

Shaily Malviya

 

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