Last Updated on October 17, 2024 by The Health Master
Kolkata: The state government would now force bengal’s 400 pharmaceutical companies to obtain proper permission and share the benefit of the natural resources they access for the pharmaceutical products.
The Access and Benefit Sharing Provision
The state government of West Bengal will now require the state’s 400 pharmaceutical companies to obtain proper permission and share the benefits of the natural resources they access for their pharmaceutical products.
This move is in line with the Access and Benefit Sharing (ABS) provision under the Biological Diversity Act of 2002.
The ABS provision mandates commercial users of biological resources to share benefits arising from their use with the state biodiversity board (SBB).
The Requirement for Commercial Users
Manufacturers of biological resource-based drugs, industrial enzymes, food flavors, fragrances, cosmetic emulsifiers, oleoresins, color extracts, and traders of biological resources used for manufacturing these products will be required to share a percentage of their revenue with SBB.
The ABS amount will be utilized for the conservation and promotion of biological resources, according to the environment minister, Manas Bhunia.
Compliance and Penalties
To comply with the ABS provision of the act, each of these 400 players must inform SBB of the biological resources and traditional knowledge they intend to access for commercial use.
Non-compliance with the act could result in a 3-year imprisonment and a fine of Rs 5 lakh.
“We have served notices on these companies. Of these 400 entities, 24 have complied with the ABS provision of this act. Others must fall in line,” said Bhunia.
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