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Conclusions and Policy Suggestions

  • Mainak Mazumdar
Chapter
Part of the Contributions to Economics book series (CE)

Abstract

The Indian pharmaceutical industry is at the crossroads due to the recognition of the product patent in the amended Patent Act of 2005 and the gradual liberalization policy of the government of India. While the recognition of product patents is a big challenge for Indian pharmaceutical companies that have hitherto relied on imitation for their growth, the liberalization of the market economy has also opened up new opportunities for Indian pharmaceutical firms. In response to policy changes and growing competition, firms started adopting new strategies like increased outlays in R&D related activities, endeavors to sell their product in the global market and investment in plant and machinery. However, the benefit from such change may not be immediate. Also, when access to resources and technology differs across firms, the process of liberalization may create winners and losers and performance differences may widen between firms.

Keywords

Technical Change Efficiency Score Production Frontier Malmquist Productivity Index Bulk Drug 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

References

  1. Majumdar M and M Rajeev (2009b) Comparing the Efficiency and Productivity of the Indian Pharmaceutical Firms: A Malmquist–Meta-Frontier Approach International Journal of Business and Economics 8(2) 159–181.Google Scholar
  2. Mazumdar M, Rajeev M (2007) TRIPS Agreement and the Emerging In-house R & D Activity of the Indian Pharmaceutical Companies: A panel Data Analysis of the Firm Level Data. PES Business Review 3(1):3–23Google Scholar

Copyright information

© Springer-Verlag Berlin Heidelberg 2013

Authors and Affiliations

  1. 1.Centre De Sciences Humaines (CSH)New DelhiIndia

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