Impact of Patent(Amendment) Act, 2005 on Indian pharmaceutical industry with reference to R&D expenditure, profit, export and sales

The Indian pharmaceutical business is the world's third-largest pharmaceutical sector in terms of volume, but it ranks 14th in terms of value. The lower position in terms of value might be due to the fact that Indian pharmaceutical enterprises are mostly focused on low-cost generic pharmaceuticals, with a broad range of company sizes and product mix. Because of Trade Related Intellectual Property Rights (TRIPS) restrictions, the Indian pharmaceutical business has undergone significant transformation since 1995. TRIPS ratification has had a considerable effect on Indian pharmaceutical industries. The effect of TRIPS on the Indian pharmaceutical industry's R&D Expenditure, profit, export and sales is examined using a dummy variable in this research. Various industrial performance drivers, such as knowledge-based resources and property-based resources, are considered. The research considers a sample of 25 Indian pharmaceutical enterprises over a twenty-five year period (1996-2020). The results show that the Indian pharmaceutical industry is significantly impacted by TRIPS compliance. The findings of this study also emphasize the relative impact of various company resources on the performance of Indian pharmaceutical enterprises. The results of this study will add to the expanding body of knowledge addressing the factors that influence the success of the Indian pharmaceutical sector in developing countries.