5 Multinationals and monopolies
The pharmaceutical Industry in India after TRIPS
Background
In the 1960s, a United States (US) Senate Committee, the Kefauver Committee, found that India was among the highest priced nations in the world for pharmaceuticals.2 In 2007, however, Médecins sans Frontières, the international medical aid organization which operates in more than seventy countries, described India as the ‘pharmacy for the developing world’.
One of the most important factors contributing to this remarkable transformation was the abolition of product patent protection for pharmaceuticals in 1972. After independence, when India wanted to develop its pharmaceutical industry, multinational corporations (MNCs) were invited ...
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