EVALUATION OF PHARMACEUTICAL REGULATORY SYSTEM & PRESENT SCENARIO OF INDIAN PHARMACEUTICAL INDUSTRY

Abstract

Indian pharmaceutical industry evolved in true sense only after independence. India is the fourth largest generic pharmaceutical market in the world. Ranking fourth in terms of volume and thirteenth in terms of value in global pharmaceutical markets and is consistently growing. Proper regulatory system ensures the quality, safety and efficacy and standard of medicinal product for sales, importing and manufacturing. India's pharmaceutical industry is one of the most highly regulated industries in the country. Understanding the regulatory scenario is extremely crucial due to the rapid and ongoing changes and due to the burden on the regulatory bodies to ensure a healthy supply of quality drugs at affordable prices to the Indian masses.