How Competition Law is Regulating the Pharmaceutical Industry for a Fair Healthcare System in India

Abstract

lower than developed nations as well as many peer developing countries, the paper underscores the urgent need for financial protection mechanisms like health insurance and beyond in the form of actionable steps which need to be undertaken to financially and holistically protect oneself from these risks.
The paper traces the evolution of competition laws in India and assesses their effectiveness in curbing anti-competitive practices in the pharmaceutical industry. By drawing parallels with international experiences, particularly the high cost of essential medicines like insulin in the US, the paper highlights the necessity of balancing intellectual property rights with public health priorities. A focal point of this analysis is the pharmaceutical sector, where rising medical inflation and high drug costs contribute to healthcare inequities.
Ultimately, this study advocates for stronger regulatory frameworks to ensure affordability and accessibility of critical healthcare services and pharmaceuticals. It argues that while innovation and profitability are essential for industry growth, competition law must play a decisive role in preventing monopolistic pricing, ensuring equitable access to life-saving medicines, and upholding healthcare as a fundamental human right.