Topic : Industrial growth, Government Policies & Interventions
5) Culture of ‘bending rules’ in India has repeatedly challenged the U.S. drug agency, in such a circumstance discuss the issues facing the Pharma industry in this direction? Suggest measures to overcome the same. (250 words)
Why this question:
Very recently Several Indian pharmaceutical companies have been accused of collusion to raise generic drug prices in the US. After facing American scrutiny over quality issues, India’s pharmaceutical industry has again landed in the crosshairs of US regulatory action. Thus we have to analyse in detail issues surrou
Key demand of the question:
The answer must discuss in detail the problems facing the pharmaceutical industry in India and the approaches to ensure long term viability.
Discuss – This is an all-encompassing directive – you have to debate on paper by going through the details of the issues concerned by examining each one of them. You have to give reasons for both for and against arguments.
Structure of the answer
write a few introductory lines highlighting the issue.
Answers must discuss the following aspects :
- The answer must examine the Pharmaceutical (Pharma) industry and the changes that have occurred particularly over the last few years as a result of the overall economic downturn, the rising cost of healthcare and the costs associated with the development and sales of pharmaceuticals.
- Explain how the response of big Pharma to this has been the recent spate of partnerships, mergers and acquisitions, consolidation, diversification, licensing agreements and downsizing in both human and capital resources.
- Discuss the Culture of ‘bending rules’ in India and in what wat it challenges U.S. drug agency.
- Suggest suitable measures to overcome the issues facing the industry.
Conclude with way forward.