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The Market Impacts Of Pharmaceutical Product Patents In Developing Countries: Evidence From India

Mark Duggan (), Craig Garthwaite () and Aparajita Goyal ()
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Craig Garthwaite: Northwestern University

No 14-005, Discussion Papers from Stanford Institute for Economic Policy Research

Abstract: In 2005, as the result of a World Trade Organization mandate, India began to implement product patents for pharmaceuticals that were compliant with the 1995 Trade-Related Aspects of Intellectual Property Rights (TRIPS). We combine pharmaceutical product sales data for India with a newly gathered dataset of molecule-linked patents issued by the Indian patent office. Exploiting variation in the timing of patent decisions, we estimate that a molecule receiving a patent experienced an average price increase of just 3-6 percent with larger increases for more recently developed molecules and for those produced by just one firm when the patent system began. Our results also show little impact on quantities sold or on the number of pharmaceutical firms operating in the market.

Date: 2014-10
New Economics Papers: this item is included in nep-com, nep-ino, nep-ipr and nep-pr~
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Related works:
Journal Article: The Market Impacts of Pharmaceutical Product Patents in Developing Countries: Evidence from India (2016) Downloads
Working Paper: The Market Impacts of Pharmaceutical Product Patents in Developing Countries: Evidence from India (2014) Downloads
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