ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Electric Motors- Crucial Elements in Growth

must perforce create the impression of an industry whose profits, always modest, are now threatened with virtual extinction. Take the recent statement of J S Raj, chairman of Glaxo Laboratories (India), who tells shareholders: 'The uncertainties resulting from government pronouncements during the previous year affected not only the business of the industry but succeeded in creating an entirely false impression in the minds of the people that pharmaceutical companies have been making extortionate profits... Far from generating unconscionable profit, the ceilings on selling prices, controlled so vigilantly by government, are required, year after year, to absorb the unchecked increases in the cost of materials and wages." What relationship, if any, does this statement bear to the actual situation in the pharmaceutical industry?

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