Introduction:-
liberalization of economies ...
Introduction:-
liberalization of economies ,Free trade barriers, increased FDI inflow in developing economics have attracted companies from different industry from developed world to expand and make use of the resources present in developing world .The phenomenon of globalization provides opportunities to developing countries and at the same time posses challenges .also as the overwhelming of the FDI is located in the triad of the wealthiest industrialized countries .rather being truly “globalised” investment flows are highly concentrated in a small proportion of the world’s economies. Pharmaceutical industry is investing more than ever in developing countries like India and China for the clinical trials. The pressure of increased profit, cut drug development costs, shorten regulatory approval times and Increased reluctant of people participating in clinical trials in developed countries has forced the industry to adopt a shameless “profit -over-people” strategy,1,2 and in country like India poverty and illiterate does not leave an option for these people other than participating in clinical trials without even understanding the facts of clinical trials .unethical clinical trials in India is not a hidden facts there has been number of such cases where people were unaware and had been exploited. Increased number of unethical practices also proves that the developed world have used developing counties for their own benefit to achieve the profit on the cost of human life.
Pharmaceutical Industry:-
There has been a shift of trend seen in the way pharmaceutical companies conduct and manage their R&D process. Earlier big pharmaceutical companies use to keep R&D centers close to home. But in recent times as the desperation of getting a blockbuster drug in market with the minimal R&D cost have increased. Mature patents going off patent and with no new therapies on the immediate horizon*, the pharmaceutical companies are looking from shifting from the tradition way of doing research and development. Drug development is a very costly and that is precisely the reason why there are very less innovation happening in the developing world. One the biggest costs incur in development of drug is clinical trials, which can account for two-thirds of the cost of developing a new drug*.
The need of pharmaceutical companies to get a faster, cheaper and in some cases better R&D brings them to developing countries like India , China and South Africa . *Since 2002, the number of active Food and Drug Administration (FDA)–regulated investigators based outside the United States has grown by 15% annually, whereas the number of U.S.-based investigators has declined by 5.5%.3 This trend suggests that clinical research is undergoing the same globalization process as other industries).
Development of drugs not only comes with the high cost but also with the high risk. A manufacturer can lose on ...
