Abhinav Tomer, IFTM University
The drugs play a vital role in the economic development of an individual country, so that several legislations have been enacted to regulate the manufacture, sale and distribution of drugs to protect the specialized knowledge, skill and experience of human being. And to promote the development, production, manufacture, possession, transport, consumption of all compounds investigated for use in human only a small fraction is eventually approved in most nations by the Government appointed medical institution or boards those have to approve new drugs before they can be marketed in those countries. There are chances of high pricing, objectionable advertisement, selling of adulterated and spurious drug in a country. Being the welfare and developing country India has its own obligations towards the peoples of India. For regulating all these issues government of India has passed the various Law for protecting public as well as inventors or pharmaceutical company’s interest.
Keywords: Drugs legislation, Intellectual property right, Pharmacy law, economic liberalization