The industry has in recent years been characterized by consolidation indicated by the fact that in 1990, the worlds top 10 players accounted for 28% of the market while this number has increased to 45%. hike the industry is facing raising R&D costs, longer development and approval age and growing contestation from generics, to name the most important challenges. At the same time the Indian market is becoming much more beautiful due to several major changes. The Indian membership of WTO forces them to select product patent from year 2005 and onwards. The Indian economy is immediate growing with a CAGR in GDP of 7.8% during 1992-2000 and has the worlds largest middleclass with an estimated 200 million 300 million people. Additionally the governing body has allowed for fully owned Foreign Direct Investment into the medicate and pharmaceutical industry in 2001. This... If you want to get a full essay, order it on our website: Ordercustompaper.com
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