The Indian pharmaceutical industry in contemporary capitalism

Abstract

This essay aims to outline the recent history of the pharmaceutical industry in India. For this, the route delineated by this sector is contextualized and identified, of vital importance for its inhabitants and those of the entire world, and its action within the world economy, which moves local industry to become a relevant international actor.

The analysis provides some determining elements that define the course of the pharmaceutical industry in that region. The purpose is not to discuss whether its performance was successful or not, but to identify the main particularities of this sector's activity in the local and world economy. It is argued that the hypothesis that explains the relative success in the recent stage is the conjunction of a series of factors. Among others, the acquisition of skills for the production of drugs from local companies; regulation by granting patents on processes for the local corporation; In an environment of transnational competition, indigenous companies use deformulation or reverse engineering to produce, at low prices and high quality, highly profitable generic drugs.