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Do you know why India is the king of pharmacies of the developing world?
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Has India emerged as the ‘pharmacy’ of the developing world? What has contributed to its rise? Is there any specific factor?
Affordable generic medicines produced in India are helping millions of people all over the globe to get access to low-cost and high quality medications. Here are some of the reasons that have helped India to emerge as the king of pharmacies of the developing world
Millions of people all over the globe rely on affordable drugs manufactured in India
India has not been granted product patents on medicine before 2005. But, with the help of reverse engineering, Indians were among the first to market life-saving HIV drugs (Zidovudine) and cancer (Imatinib) after a few years of their launch in US. Stiff competition among manufacturers of generic drugs in India has resulted in reduction of prices for medicines for the treatment of Hepatitis C, Malaria, Tuberculosis, HIV/AIDS.
India has made access to affordable HIV treatment a possibility
Today, India is the world’s primary source of affordable HIV medicines as it is one of the few countries with the capacity to quickly produce newer HIV drugs as generics. The generically produced medicines in India are used by the HIV treatment programmes initiated by the government of many developing countries. These programmes have been proven beneficial for more than 15 million people who are living with HIV/AIDS all over the world.
India is one of the leading suppliers of affordable vaccines all over the globe
Vaccines that are produced in India are used domestically and are exported globally to about 150 countries. India is also one of the leading suppliers of vaccines to UNICEF and various countries.
India makes low-cost generic possible by preventing ‘evergreening’
Few years back India adopted stringent patent law that, while allowing patent protection for latest pharmaceutical compounds, makes it difficult to obtain a patent on new forms of existing drugs.