Abstract
India's pharmaceutical sector is currently undergoing unprecedented change. Much of this is due to the country's introduction, on 1st January, 2005, of a system of product patents. Both multinational companies and domestic players are examining the prospects offered by the local market as the government moves forward with initiatives aimed at providing India's more than one billion inhabitants, for the first time, with access to the life-saving drugs they need. A further huge boost to the local market is emerging from the rise of India's new affluent consumers, who lead more Western-style lives and are demanding innovative drugs to treat the chronic illnesses that these changing lifestyles may produce. India's leading drug manufacturers are becoming global players, utilising both organic growth, through the gradual development of their business, and mergers and acquisitions as they seek to boost their presence in existing markets and open up new ones. With these opportunities, however, there are huge challenges that require commitment by both industry and government, and unprecedented levels of partnership between them. This paper is as an attempt to put forth these marketing challenges and suggest the way forward for pharma companies in India.
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