Issues relating to competition law with special reference to pharmaceutical sector in India a study

Abstract

The pharmaceutical sector being a backbone to the healthcare system is unique in itself. One way it boosts the economy of a country from an industry standpoint, on the other hand, the pharmaceutical sector contributes to making the public health vibrant through innovations, research and development, and manufacturing and prompting medicines at a reasonable price. Combining both these task, the pharmaceutical sector plays an important role in strengthening a nation. Pharmaceutical sector is a highly regulated sector and still many issues for example information asymmetries, consumer choice and the use of passive consumer force contributes to uncompetitive effects. The pharmaceutical sector has multiple implications; these implications interfere and interact with various aspects of industries and health. It is difficult to have a comprehensive study on such important sector with multiple implications with a view to cover all the issues. In this study, the researcher has made a humble attempt to simplify this topic and its interaction with the completion law. The most important aspect of this interaction is to best serve the needs of the consumers. The researcher found the Consumer at the crossroad of Pharmaceuticals sector and the corporate greed to make money. The Competition Commission has to work very cautiously and in tandem with the other ministries or department as the ramifications of insincerity in regulating these sensitive sectors might cause great harm to the individuals. newline