Competition and intellectual property policies in the Indian pharmaceutical sector
Abstract
The Indian pharmaceuticals market is estimated to be the third largest in the
world in terms of volume, and one of the largest in terms of value created
(Economics Division, 2017). This industry is also a key player not just within
India but also across the globe; the Indian pharmaceutical companies produce
bulk drugs that are exported to several countries, including the Organisation for
Economic Co-operation and Development (OECD) nations. When compared to the
other pharmaceutical sectors in the world such as the mature markets in the OECD
countries, the Indian pharmaceutical market is unique due to several reasons: a
changing patent regime (from product patents to only process patents and then back
to product patents), unique nature of competition (for example, branded generics
as against pure generics), etc. Given this exceptional nature of the pharmaceutical
market, it is important to understand this sector from a public policy angle
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