: Saturday, May 15, 2021, 2:30 AM IST
We need a new formula needed to keep our âformulationsâ market dominance, writes Bharat Jhunjhunwala
The Modi government must stand up to western pressure, to protect our economic and health sovereignty
Multinational companies (MNCs) had two-thirds of the domestic drug market of India in 1970. Then, the government had nullified âproduct patentsâ. The government allowed Indian companies to manufacture drugs patented by MNCs by alternative processes. This resulted in a fast increase in domestic drug manufacturing and not only Indian, but the world drug market was dominated by Indian companies. The dominance of Indian companies in the drug market, known as âformulationsâ, is maintained as of date.