unacademy 26-28th January 2019 Important Editorial Discussion(The IlIlness Plaguing India's Pharmaceutical Sector) Presented By: Prabhakar Jha
India is the largest provider of generic drugs globally with the Indian generics accounting for 20% of global exports in terms of volume. Presently over 80 percent of the antiretroviral drugs used globally to combat AIDS are supplied by Indian pharmaceutical firms. Generic drugs export >24% per year CPhl Annual Industry Report 2018 India ranked sixth in innovation.
Background . Changes in various policies related to trade and entry of multinational companies in the Indian pharmaceutical industry were initiated in the early 1970s. .The economic reforms initiated in the early 1990s, broadened irn scope gradually over the years that followed, have drastically changed the scenario. . However, the pace of growth of this industry has shown a remarkable upswing only after 1991, and particularly after 2005. . The introduction of pharmaceutical product patents brought new business opportunities. But the increase in competitive pressure has possibly induced the exit of small and inefficient firms and plants from the market.
Pharma sector in India is also facing steep headwinds on account of this lack of proper assessment of the performance of the pharmaceutical industry Problems Plaguing Pharma Industry in India Unregulated online pharmacies emerging in India have been a major concern for authorized setups. in India, even non- graduates are performing as MRs without proper guidance
Suggestions The introduction of pharmaceutical product patents and the mandatory implementation of good manufacturing practices It is necessary for the Indian pharmaceutical industry to become globally competitive through world-class manufacturing capabilities, Training and development of human promote public-private partnership Improvement in industrial practices to provide better training and support services for employees to perform their job functions.
Government Policies and Initiatives The Supreme Court of India also upheld the 2006 decision of the Indian patent office It has also introduced a range of fiscal incentives to promote domestic manufacturing, including the reduction of inverted The government and the Pharma sector in that refused a patent close cordination have The Union Budget 2017-18 shows an increase of 23% in the health expenditure that is likely to give Cabinet has given approval for 100% for a mere incremental innovation to a Swiss fimine FDl under automatic effectively harness the power of Information technology to improve efficiency. route for further impetus to the duty structure and Pharma major. The manufacturing of medical devices. pharma sector basic customs duty which will promote manufacturers verdict disallowing patent protection caused an international uproar.
Increased transparency Better tracking by regulators Convenience Importance of e- pharma Affordability Access Better pharmacovigilance
GS And GA faculty @ Mahendra's Coaching Institute. Teaching Polity, and international relations for 7 years