Marketing Strategies of Indian Pharmaceutical Companies Under Wto Regime in India

Changing Marketing Strategies Of Indian Pharmaceuticals Companies Under The Present WTO Regime

Introduction

Health is defined both as cause and effect of economic development. Therefore, the pharmaceutical industry is specifically recognized in the UN Millennium Development Goals as an actor that can contribute to economic development.
The pharmaceutical industry is the world’s largest industry due to worldwide revenues of approximately US$2.8 trillion.[i] Pharmacy industry has seen major changes in the recent year.
This dissertation provides an analytical review of the pharmaceutical industry in India; its origin, evolution, development and competitive environment of WTO within which it operates and the strategic issues relating to marketing, which the industry faces. The study also offers an overview of the industry, its key players, their strategic outlook, the impact of technological developments and other strategic issues facing the industry.

The pharmaceutical industry is a knowledge driven industry and is heavily dependent on Research and Development for new products and growth. However, basic research (discovering new molecules) is a time consuming and expensive process and is thus, dominated by large global multinationals, and attracts lots of protection and legal issues relating to intellectual properties. This dissertation deals with all these in order to understand the changing strategies relating to market. Indian Pharmaceutical Industry is poised for high consistent growth over the next few years, driven by a multitude of factors.

But before exploring that far, let’s know about the Indian Pharma industry and its evolution and growth as an Intellectual industry.
Chapter 1

Indian Pharmaceutical Industry- An overview

INDIA has a highly efficient pharmaceutical industry, which started blossoming thanks to the virtual absence of patent protection of medical drugs. It is a successful, high-technology-based   industry   that   has...