Mr. Teruo Yasufuku, Managing Director, Astellas Pharma India Private Limited

Pharmaceutical companies have voiced demands that the industry should be accorded infrastructure status. If this happens, it would undoubtedly benefit the industry. While the government may take its time to decide on this, it could certainly address specific irritants. For instance, MAT (Minimum Alternate Tax) on book profits was hiked last year from 10 percent to 15 percent, which was a retrograde step. Since the pharmaceutical industry’s growth was hamstrung in 2009 due to the global slowdown, the government could renew efforts to encourage companies to boost R&D activities. Reducing MAT by 10 percent would act like a shot in the arm for pharma companies.

Furthermore, given the impact of healthcare on the workforce and productivity, select medical devices, drugs and formulations used in common and critical illnesses should be exempt from excise duties or attract lower tax rates. This will benefit citizens, companies and the country by encouraging better performance and higher productivity. Lower tax rates will allow leeway for pharma companies to market drugs at lower price points, enabling higher access for those with limited purchasing power.

Mr. Teruo Yasufuku
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Mr. Teruo Yasufuku is the Managing Director of Astellas Pharma India Pvt. Ltd.

After graduating in 1983 with a degree in Law, he started his career in sales as medical representative with Fujisawa Pharmaceuticals Co.Ltd. In 1992, he moved to the company’s international division in Osaka, looking after the licensing business. He later drove the sales and marketing of Prograf and Protopic for Europe when stationed in Fujisawa GmbH, Munich from 1998 to 2004.

In October 2007, Mr. Yasufuku was assigned to set up the Astellas Pharma -Mumbai Liaison office and was appointed as the representative officer. During his corporate career; he has been recognized for his leadership skills and the enthusiasm to be the best in the business. He will play an important role in guiding the company's overall strategic planning and business development activities.