Main Article Content
Purpose: Analysis of the various issues and challenges, likely to be faced by the Indian Pharmaceutical Industries and probable policy initiatives for addressing those issues to meet future challenges.
Methodology / Approach: After briefly putting the issues and challenges before Indian Pharma Sector, papers published on these issued are reviewed for getting more insight. Then, the Policy initiatives from the government side for addressing these issues are analysed against their intended outcomes. Finally, Researchers’ own observations have been elaborated along with the comments on what these policies ought to be.
Findings: The paper points out the challenges which are either being there at present or likely to emerge in coming future before the Indian Pharma Industries. After analysis of the policies, initiatives taken to address those issues, which are the key factors in bringing out the structural changes in the sector, along with analysing the probable lacuna in these initiatives, especially those related to Pricing as well as Research and Development (R & D), have been discussed. Further, it has also been brought out that, as the substantive outcomes of those policies are still awaited, it is only premature to make any meaningful comment on them.
Originality / Value: Researchers have put their observations on the comprehensive R & D Policy that can be addressed with proper discussion at various levels. Further, issue of pricing of off-patented drugs has also been raised, that is to be addressed with the support of effective policy mechanism in place.