Publication

This paper discusses India's policy toward its pharmaceutical industry, focusing on the balance between access to affordable medication and incentives for economically attractive innovation. The paper reviews the historical evolution of India's pricing regulations for pharmaceuticals and explores the reach of the current health care system. Subsequently, the paper sheds light on price control mechanisms proposed for patented drugs and outlines alternative mechanisms for an Indian "third way". The paper argues that by formulating a new approach to pharmaceutical pricing, India can offer viable solutions to other developing countries.