Nishtha Wadhawan & J Tanisha, Amity Law School, Noida
ABSTRACT
India is the largest producer of generic drugs in the world. The increase in health expenses has made it difficult for patients to manage to pay for their treatment. The pharmaceutical industry is influenced by a host of practices which may primarily relate to price regulations, insurance, drug procurement by government agencies, nexus among players in the pharmaceutical industry and service providers, patent laws, safety policies, drug regulation, drug promotion regulation, drug advertising regulation, etc. The most important goal of the health ministry is to offer access to lower priced drug treatments to the citizens however there are various obstructions caused because of monopolistic powers and upward thrust in expenses of the drugs.
The pharmaceutical industry is an important source of health care for billions of people globally and in India. Hence, it is expected to be a highly regulated sector. Hence, the regulatory mechanism plays a crucial role and has to work with all such diverse set of laws, polices and regulation governing the pharmaceutical sector. The competition in these markets is very critical for making quality medicines at lower for the customers. Competition regulations plays a vital role in dealing with anti-competitive practises in this industry and maintains competitive markets.
