India's Pharmaceutical Industry: A Formidable Aid To The World
This change in the norms bubbled up firms all over the country out of which some are FDA approved. China and Italy have 30 and 55 FDA approved facilities respectively which is quite less even after combining the number as India holds over 100 of them from 350 facilities.
So with the changing norms in mind the domestic industry is quite excited and anticipating for the future as around $60 to $70 billion worth of medicine patents are going to expire.
Taking India as an example several other countries are having after thoughts as to reforming their norms to suit the pharma industry and rise up their foreign exchange index.
India, a legal battleground favoring the generic producers as the recent case rulings from Supreme Court finalized the matters when a pharmaceutical company’s attempted to evergreen the patent for a blockbuster and thereby curbing efforts to produce generic version at cheaper rates.
Based on case studies like these, some other countries like China, Argentina and Thailand are empowering regulations to aid the production of generic drugs that can be sold at a lower margin of cost and higher profits.
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