Gurjinder Singh, Assistant Professor, University Institute of Legal Studies, Panjab University, Chandigarh
ABSTRACT
The pharmaceutical sector is highly regulated sector. From patent application to marketing approval, commercial exploitation, patent expiry and market competition, particularly concerning genetically engineered medicines, all aspects of the new drug life cycle are regulated. The various regulatory controls aimed at ensuring product efficiency and safety is carried out by manufacturers, whole seller, retailers, medical professionals and industry stackers across the whole industry. The Indian pharmaceutical industry which is also known as the pharmacy of the world once had just 5% of share in the Indian market in 1969 and the world pharma had 95% share, which is now another way around in 2020. Now this sector holds 85% share and global pharmaceuticals hold the rest of the shares at 15%. But this high curve growing sector is prone to many hostile practices which directly or indirectly impact the consumer/patient. Though India is called the pharmacy of the world, still a large number of the population spend money on the medicines out-of-pocket. The Government spending on healthcare is also very low which is around 1.29% of the GDP (2019-20). Surprisingly, in a country where the right to health is a part of the fundamental right still the public spending on the healthcare facilities is very low. In this paper, the author has tried to map the pharma sector both in value and volume. The author has discussed the problems around the sector and drew and interfaces between competition law and the pharma sector.
