Technological Innovations and their Impact on Pharmaceutical Industry: An Empirical Study of Medical Representatives

1KOMAL CHANDRA

1Assistant Professor, Department of Pharmacy, Graphic Era Hill University, Dehradun Uttarakhand India 248002

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Abstract:

The pharmaceutical industry's unique company model and commercial operations have a notable impact on the process of delivering new drugs to patients, even though they are not widely comprehended outside of the industry. The likelihood of a new drug succeeding could be higher, and the process is very time-consuming, costly, and hazardous. After implementing international patent rules on January 1st, 2005, the Indian Pharmaceutical Industry saw a tremendous shift. India's indigenous pharmaceutical businesses have seen massive growth in R & D investment to remain competitive in the global pharmaceutical industry. India has very well researchers, a well-established computer industry, and technology for producing bulk pharmaceuticals and formulations, despite the country's limited pharmaceutical market and lack of financing for drug development initiatives. Following a discussion of the company's commercial realities and restrictions, along with its current issues, there follows an examination of some of the expected future commercial and technological advances in the company.

Keywords:

Pharmaceutical Industry, Research, and development, Patent Laws, Patent reforms.

Paper Details
Month01
Year2021
Volume25
IssueIssue 1
Pages740-747