1Research Scholar, Amity Law School, F-1 Block, Amity University, Campus, Sector 125, Noida, Uttar Pradesh
2Prof., Amity Law School, F-1 Block, Amity University, Campus, Sector 125, Noida, Uttar Pradesh
Online published on 23 December, 2019.
Health care for all” has been receiving attention of multilateral forums to strategize the same as a fundamental right and duty of all sovereigns. The Health care sector comprises of composite health care functions and services by health and is a USD 250 billion market globally; as far as pharmaceutical industry alone is concerned. The pharmaceutical industry is highly regulated and is subject to tangential sectoral regulations, interfaces of Price Control Measures, Intellectual Property Law and Public Welfare element and is a sector which is largely concentrated and is prone to anticompetitive practices in manufacture, supply, distribution and sale of generic branded and generic generic drugs. Evidence globally has shown abuse of market power through dominance in the relevant market, cartelization in fixing prices and territories in generic drug segments as also prescription medicines to the detriment of general masses globally with price escalation of over 1000%. The paper examines the efficacy of Price Regulations in keeping the drug prices unabated and their appropriate calibration with incentivizing R & D to bring new innovation and the anti-competitive practices endemic to sector. It explores the relevance of enforcing Competition Law interventions to extant ecosystem of pharmaceutical industry to ensure removal of Competition bottlenecks.
Price Regulation, Intellectual Property, Anticompetitive practices, Public Interest
