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The Pharmaceutical Industry in India

P. K. Ramachandran and B. V. Rangarao
Economic and Political Weekly
Vol. 7, No. 9 (Feb. 26, 1972), pp. M27+M29-M36
Stable URL: http://www.jstor.org/stable/4361074
Page Count: 9
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The Pharmaceutical Industry in India
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Abstract

Though there are a large number of units in the Indian pharmaceutical industry, the core of the industry is dominated by multinational firms operating as Indian subsidiaries and by firms with foreign financial or technical participation. These firms greatly depend on imported technology and imported raw materials for production. As a whole, the pharmaceutical industry in India is far less productive than it is in other countries - judged by the investment to production ratio. The majority of the products are 10 years, or more, old and the technology cannot be termed 'advanced' by Western standards. The visible and invisible costs borne by the nation for the foreign capital and technology have been heavy. How far the pharmaceutical industry, given its present set-up, would be able to attain the national objective of self-sufficiency in drugs calls for a thorough study of the industry's technology, modifications of processes and efforts towards subsitution of imported raw materials. Measured by the present trends in R and D investments, the industry is not geared to any major innovation in the near future.

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