India and the UAE are in high-level talks to find a solution to the pricing norms which restrict the export of Indian generic medications and vaccines.
External reference pricing (ERP) has been employed in the UAE and other Gulf countries to regulate drug prices. Manufacturers are required to provide a basket of nations whose prices they use in estimating the cost of medical supplies in the nation.
As to a source, the reference price is being debated at the "highest level" because Indian pharmaceutical manufacturers, who control the market for affordable generic drugs, are concerned about the situation.
The $3.5 billion drug company in the UAE is thought to be 80% imported. Also, the emirate serves as a worldwide centre that gives Indian drug makers access to other global markets, particularly the GCC.
Given the quick approval of medications under the free trade agreement India and the UAE struck in February, pricing obstacles still exist.
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