Abstract

AN OVERVIEW OF LAWS GOVERNING PHARMACY IN INDIA

Sushant Sud* and Sud Khyati S.

Abstract

The Indian pharmaceutical industry is one of the largest in the world both in terms of volume and value. Given its critical importance, the sector has been subject to a series of regulatory interventions, which have altered the nature of the industry quite significantly. In recent decades, many nations and international organizations have made a concentrated effort to homogenize the laws governing intellectual property. This is due to the continuing tension that exists between large, multinational pharmaceutical companies (MNCs), and developing nations that lack both the infrastructure and capital to establish their own self-subsisting pharmaceutical industries. A look through the pages of history reveals that man suffered from the so called „Diseases‟ in the past as he does to-day. Amongst many modes of treatment of diseases the most successful approach has been the administration of materials picked up from the environments to the sick man. Healthcare facilities in India are still below standard as compared to most developed nations. Industry today is governed by wide range of regulations and different regulatory bodies. The purpose of this article is to understand the pharmaceutical sector through the prism of competition law and regulations.

Keywords: The Indian pharmaceutical industry is one of the largest in the world both in terms of volume and value. Given its critical importance, the sector has been subject to a series of regulatory interventions, which have altered the nature of the industry quit