MULTINATIONALS IN THE INDIAN DRUG INDUSTRY 89 gested nationalization of the drug industry. The New Drug Policy introduced will not help solve any of these problems. It will only help the firms to increase the prices of the drugs so that the increased burden will again fall on the common man. Nationalization is the only answer and it should be done without any compensation at all taking into consideration the initial investment^ profits repatriated, prices charged, and so on. N I JOSEPH 1 Estes Kefauver, In a Few Hands, Penguim Books, 1965. 2 Transnational Corporations in World Development; A Re-examination, United Nations E-C. 10-38. •i Ibid. 4 Myth and Reality of Drug Industry, Standing Gommi tee of the National Convention on Economic Independence and Perspective of Drug Industry, New Delhi. •"' Ibid. 6 Ibid. 7 Sanjaya Lall, paper presented to the First International Conference on Transfer of Technology. 8 Technology Transfer in the Pharmaceutical Industry, UNIT/VR, Research Report No 14, Washington. 9 Note on Pharmaceutical Industry in India, ^Economic and Political Weekly'", Vol VII No 9, 1972. 10, Public Health Report, WHO, 1967. 11 The Monopoly Commission and Pills, Profts and Politcs, University of California, Berkeley, 1974.