Why India is the ‘Pharmacy’ of the Developing World
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Developing countries across the world face several challenges, key among which is providing their people with affordable medicines of high-quality. A ‘public first’ approach to policy, strict medicine patent law and doctors wh have used reverse-engineering to introduce generic drugs, are some of the reasons that India has emerged as the ‘pharmacy’ of the developing world. 1. Millions of people around the world rely on affordable medicines made in India to stay alive Before 2005, India did not grant product patents on medicines. This allowed for the production of low-cost, generic versions of medicines that were patented in other countries. Indian manufacturers, with their reverse engineering skills, were the first to market low-cost versions of the life-saving cancer and HIV drugs within a few years of their US launch. Robust competition among generic producers in India has resulted in a price reduction of more than 99 percent for medicines acr...