REPLACING OBAMACARE BY NEW LAW IN US RISK TO BIZ: DR REDDY’S
Homegrown pharma major Dr Reddy’s believes that replacing ‘Obamacare’ by another law in the US will pose risk to its business that can have adverse material effect on financial performance. The Trump administration in the US plans to repeal and replace The Patient Protection and Affordable Care Act(PPACA), nicknamed Obamacare. “Any changes in the PPACA, the Medicaid Part D program or other laws relating to drug pricing, coverage through Medicaid or Medicare, or other facets of the US healthcare market could have a material adverse effect on our results of operations, financial condition or business,” Dr Reddy’s said in a filing to US Securities and Exchange Commission (SEC). The Hyderabad-based firm also said there has been an increasing trend of manufacturing site audits by the USFDA and regulators in other developed countries and it could not guarantee that its efforts would prevent adverse outcomes, including warning letters or import bans. In March 2017, the US House of R...