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The Indian pharmaceutical industry is one of the largest in terms on volume and value. Given the interesting proposition it holds for several geographies, the Indian pharmaceutical industry face several regulatory interventions. With the advent of new laws regarding patenting, and changes in the patenting regime starting from product patenting to process patenting and the unique nature of competition have made the Indian pharmaceutical industry very unique in several respects. With the enacting of the Indian Competition Act in 2002, India has been a host of several changes in the IPR and patent regime. This report aims to guide Indian pharmaceutical companies in the light of the law- both national and international. Subsequently, we will take up relevant issues like market definition, IPR regime and resolution for various issues faced by the Indian pharmaceutical companies.
In India, spending by patients and families, constitute a major part of the cost of medicines. Medical expenses are directly responsible for households falling into spiralling debts, or even selling of assets, affecting the normal standard of living. Inability to afford medications leads to morbidity, loss of work days, and reduced productivity. The cost and availability of any drug is directly hence, impacted by several government policies.
The Indian pharmaceutical industries require a different understanding or an economic analysis. Medical representatives and hence, the marketing strategy of the producers results in influence on the doctors and pharmacists, which may result in supplier induced demand and market failure. The pharmaceutical companies are also susceptible to collusive agreements between producers along the supply and demand chain, anti-competitive merger and acquisition and the use and misuse of patents and international law regimes.
The solution lies in understanding the law structure of any international geography and merger laws, recognizing the anti-competitive affects of some strict policies, reforming the laws so that the competition is not altered while fulfilling other matters of concern, and yet actively using pro-competition policies in the areas of anti-trust enforcement, exploitation of TRIPS mandates, production, procurement and distribution. The aim of this report is to address these various issues.
This report would have four case studies related to the pharmaceutical companies. It will cover the brief history and regulatory mechanism of Indian pharmaceutical companies. IPR and international laws will also be discussed. Lastly, the report will conclude how game theory will enhance and facilitate competition among the pharmaceutical countries all over the world.
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