New York Times Examines India's Growing Influence On Global Drug Industry
Wednesday, July 07, 2010
"India’s drug industry — on track to grow about 13 percent this year, to just over $24 billion — was once notorious for making cheap knockoffs of Western medicines and selling them in developing countries. But India, seasoned in the basics of medicine making, is now starting to take on a more mainstream role in the global drug industry, as a result of recent strengthening of patent law here and cost pressures on name-brand drug makers in the West," the New York Times writes in a piece that examines what the role could mean for the country as well as the pharmaceutical industry.
The article details how India's "flair" for "manufacturing goods demanding high-skill production and superlow prices" could impact the way pharmaceutical companies do business, while highlighting the challenges yet to be overcome by India's drug industry, including issues with intellectual property, quality and safety, and counterfeit drugs. The article also includes comments by industry representatives in India and the U.S. (Timmons, 7/6).
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