Library Dissertation Showcase

Pharmaceutical generic business in India and related import trade policies: SWOT analyses and insights

  • Year of Publication:
  • 2022

The pharmaceutical generic business is one of the world’s growing markets as there is increasing need of medicines around the world. To accomplish the growing need of medicines, it is not possible to achieve it through branded medicines only, hence the generics came in light for the medicines whose patents are expired, and now these medicines can be manufactured following regional guidelines, which are affordable and easily available in the market as compared to the branded drug products. This research is about exploring the current situation of generic business in India using SWOT analysis and identifying the ways to overcome the dependency of India on import of raw materials and API by analyzing import trade policies and regimes, and also focusing on the measures which could be helpful in further growth of the pharmaceutical generic business around the globe. India is the world’s largest generic drug provider, but to manufacture these medicines, it also depends on other countries to get the raw materials, it is importing 70% of raw materials from China to meet the world’s requirement of generic drug products. However, this dependance of India is now creating some trouble like the increasing cost of raw material, which ultimately tends to the rising cost of medicines. To understand and resolve this issue, the following study involves the ontological perspective of research focusing on subjective study using interpretive philosophy which emphasizes that how people interpret their social world by applying inductive approach for theory development leading to qualitative methodology. A series of semistructured interview was conducted with 6 respondents from pharmaceutical industry based on their knowledge and experience. The data analysis was done using thematic analysis technique includes coding procedure which illustrates that, India holds a strong position in generic pharmaceutical business and government of India is supporting by implementing various schemes and import trade policies which could be helpful in overcoming the issues related to the increasing cost and importing raw materials. Therefore, this study is contributing towards understanding the current situation of generic business and related trade policies by doing SWOT analysis, additionally this study is providing the alternatives of importing raw materials and improvements measures for the growth of the industry. Moreover, it is adding the fresh data towards the pharmaceutical generic business research for future aspects.

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