Author:
Malhotra Prabodh,Lofgren Hans
Abstract
India has built a large pharmaceutical industry
through an array of measures in support of
domestic firms. The absence of product patents
enabled Indian companies to become world leading
producers of generic versions of patented
drugs. Low costs and a strong engineering tradition
continue to sustain competitive strength. The
implementation of the World Trade Organization
patent regime in 2005 is driving a transformation
of the industry. Key elements of the present
shake-up include the return of ?big pharma? companies
on a large scale and the emergence of
several Indian firms that aim to become fullyfledged
research-based multinationals. This article
provides a description of the development and
structure of the Indian pharmaceutical industry
and explores questions and challenges arising
from its integration into global markets.
Cited by
6 articles.
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