Impact of Patent (Amendment) Act, 2005 on Indian Pharmaceutical Industry
Since 1901, the Indian pharmaceutical industries have expanded and strengthened to become a significant supplier of healthcare items, meeting around 90% of the nation’s need for bulk pharmaceuticals, drugs intermediates, chemicals for the medicinal base, pharmaceutical compounds, medicinal formulas, drugs, tablets, orals, respules/capsules, and injectables. Indian pharmaceutical industry has embarked not only on national markets but it has an esteemed and illustrious position in international markets also. India is the world’s third-largest pharmaceutical manufacturer by volume and fourteenth-largest by value. The growth and empowerment of the pharmaceutical industry is totally attributed to the rules and principles governing the operations and evolution of the pharmaceutical industry in India. These rules are the controlling guidelines mandated by the Government of India, through the Acts and amendments made in the acts at various times. One of the major and most influential amendment is the Patent (Amendment) Act, 2005. This act has provided new dimensions and horizons to the Indian pharmaceutical industry and a good number or rational researches have been performed on this subject. It has thus been a fascination to dig the researcher’s points of views about how The Patent (Amendment) Act, 2005 after TRIPS has impacted the Indian pharmaceutical industry since this act has been passed. This survey paper is an attempt to bring out the deviations and modifications, Indian pharmaceutical industry has been gone through, since year 2005.
Indian Pharmaceutical Industry; TRIPS; The Patent (Amendment) Act, 2005; Trade; Exports; Profitability
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