Generic drugs refer to imitations that are basically the same as well-known drugs in the market in terms of quality, efficacy and indications. 1984, in order to save medical insurance costs, the US Congress passed the Drug Price Competition and Patent Period Compensation Act, which officially opened the era of generic drugs. Since then, generic drugs have been widely supported by governments all over the world and formed a huge market in the world. According to incomplete statistics, by 2020, about $259 billion of drugs will face patent expiration, which provides an excellent development opportunity for the generic drug industry in China. India's generic drugs have developed rapidly, accounting for 1/5 of the global generic drug market, and its total drug exports have reached $654,380+03 billion, which is the main source of American generic drug imports. Indian pharmaceutical industry has gone from obscurity to becoming the main force in emerging markets, and its development track has left some experiences for China to learn from.
Faced with the riddled free medical system for all, India is afraid and unwilling to embark on the crooked road and evil road of privatization. Fortunately, the western media, which blew Indian democracy to the sky all over the world, reminded India that since the 1970s, India's pharmaceutical industry has embarked on the road of independence and self-improvement. The Indian government played its fine tradition and ignored all the patent protection rules, and finally developed into a global production base for low-priced generic drugs.
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