The parliamentary standing group on health has asked the administration to be cautious about the selling out of major Indian pharmas to multinational corporations, whose growing hold on the drug market it said will make vital medications pricier.

In its report delivered to the Rajya Sabha on Wednesday, the group mentioned that the majority of pharmaceutical firms have sold the big portion of their shares to MNCs.

The report said, "Promoters of some Indian pharma companies like Piramal Healthcare, Ranbaxy, Shantha Biotech and Dabur Pharma have already sold their controlling shares to US, Japanese and German MNCs."

The committee asked the administration to make sure that major Indian drug companies remain in Indian hands.

"The committee would appreciate if the ministry of health and family welfare takes up the issue with the ministry of chemical and fertilizers without any delay and come up with policy option to ensure that major Indian pharma companies are in Indian hands," the report added.

Commenting that 61 drugs worth more than $80 billion are going off patent between the year 2011 and 2013 making it possible for Indian pharmas to manufacture more inexpensive version of the drug, the group showed worry over the growing hold of multinational corporations.

"These developments would result in MNCs gaining market supremacy and essential medicines are bound to be costlier," it added.

As per health ministry, the country is the third biggest manufacturer of generics throughout the world and exports drugs to around 156 nations.