Brand V/S Generic- Value Based Pricing for Pharmaceuticals in India

The pharmaceuticals in its widen scope means drugs, diagnostics and other commodities that are used to treat disease, manage the condition along with tools and system which are used to diagnose the disease [1]. The pharmaceuticals are the result of extensive research effort which is usually governed by the Intellectual Property Rights (IPR). The IPR is protected by registering the pharmaceuticals as patent trademark franchise. The pharmaceuticals which are protected by patents usually for 20 years from the date of registration. The patent period is protected during which no one can else manufacture the products without the permission of the patent holder. The patent holder shall loose the authority over the patent, after the date of patent period gets over. Anybody can make the patented product, including innovator after patent regimen over and sell it in the market such an innovator product is called “Generics” [2].