Impact of World Trade Organization on the Indian Pharmaceutical Industry: An Assessment From Manufacturer’s Perspective

Abstract

World Trade Organization (WTO) is now relevant for signatories. India being one of the initial signatories need to ensure that product patent concerning pharmaceutical industry is considered seriously. Even though it was clear that Indian companies are not investing in the Research and Development (R&D) activities, it was pertinent to understand the magnitude of the same from the managers themselves. This study was conducted through a questionnaire, which was circulated among the 400 registrants of the Indian Drug Manufacturers Association (IDMA). However, there were only 231 responses. Inferential statistics, descriptive calculations, Klomogrov- Simrnov test, discriminant function analysis were used for the analysis. Considering the importance attached to the variables, the study revealed very important findings which were provided in the article as suggestions. Now all the major Indian companies have started realizing the importance of new product development and R&D.