Yes, it will be of great benefit to Indian pharma companies who have strategically placed themselves in supplying generic drugs to US. The legislation is a clear signal by the US government that it intends to bring down healthcare costs & the main objective seems to be introduce generic version of drugs wherever possible to cut cost of medication.
With the Indian pharma industry fundamentally based on generics. India stands to be the most obvious choice for US pharmaceutical companies when they look outside for generic products. Many pharma majors have been anticipating this move by the Obama administration for a while. There have been a slew of significant deals closed in the recent past between large US pharmas & Indian companies in preparation for the healthcare legislation!!
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The proposed Bill promotes the use of generic drugs which costs about one tenth of the cost of the original vesion. The Indian pharma industry is fundamentally based on generic products. This will open up huge opprortunities to Indain companies because India is having the highest number of US Food and Drugs Administration approved pharma plants outside the US. But a word of caution: The proposed overhaul of healthcare did not happen overnight. And in preparation of the revised regime that sought to keep the healthcare costs under control, multinational drug makers had already taken strides into the generic business, either by acquiring generic companies or by entering into out-licensing deals with generic companies.